Sydney Group appoints SA-based expert to manage major investment fund

Sydney-based JAGA Group has appointed South Australian-based Michael Baragwanath to launch a new Alternative Income Fund opening with $90million and lead a team of credit and asset management experts.

The strategic appointment is a critical move by the privately owned Sydney-based investment group. It follows JAGA's recent decision to transfer five of its commercial properties located in some of the most desirable suburbs of Sydney to a yet to be named Alternatives Income Fund while remaining a significant investor. This appointment is part of a series of turning-point transactions unlocking significant capital for JAGA Group.  

JAGA Founder and former Mergers and Acquisitions partner at KPMG, Jon Adgemis, has appointed Michael to build a team as they look at additional investment and expansion opportunities.

Investment Manager, Michael Baragwanath, described his appointment as a true show of confidence in South Australia and the local capability within the broader Funds Management industry.

"South Australia has come into its own in recent years as the place to do business. The traditional option of engaging a Victorian or NSW Asset Management company is long gone as we rightly claim our spot at the national table for managing these types of multi-million-dollar asset raising and investment activities," Mr Baragwanath said.

"Adelaide is ranked the world's third most liveable city by the global index, and we are well placed to attract people with highly sought-after skills and experience who want to enjoy all the benefits of city living without the congestion and cramped living," he said.

Mr Baragwanath said recruitment had already commenced with Matthew James, Westpac Commercial Bank Manager, joining the team and creating up to 15 new jobs. 

The team is to be based in South Australia, with five people located interstate, split between Sydney and Melbourne. 

The JAGA Group has recently launched a pre-ipo raising for Public Hospitality Group having acquired a series of Sydney pubs, including The Town Hall in Balmain, The Kurrajong in Erskineville, The Exchange in Darlinghurst and The Camelia Grove in Alexandria. Founder, Jon Adgemis, said: "Michael has quickly demonstrated his expertise and value to our team. We see real advantages in backing a new Alternative income fund focused on easy-to-understand assets like real property and lending,"  

This announcement follows recent activity by Mr Baragwanath in attracting more than $50million of investment into Kangaroo Island with local investors and Pelligra Group constructing a new Destination Golf course. 

Mr Baragwanath's consulting company "Bara Consulting Group" also leads a team of consultants on the 254 North Terrace Freemason Skyscraper, Adelaide's tallest building, and hopes to house Adelaide's Museum of South Australia's History there. 

Michael brings over 16 years of wealth management and advisory experience to his role, spanning greenfield asset development, corporate structuring, and retail financial advisory. He has held senior roles managing the development and distribution of financial products at Westpac. He has been involved in a range of projects in Hong Kong, Dubai and Australia and is the treasurer for the South Australian arm of national charity Life Education.