June 2023

Dear Investor and Supporter, 

I’m excited to announce recent developments at Conduit Capital.

I founded Conduit in 2020 to take advantage of significant demographic change, as ∼70% of the world’s population will be Millennial & Gen-Z by 2030, combined with the largest intergenerational wealth transfer in history, of $60 trillion, unlocking enormous spending.

In late 2022, we were approached by an international fund manager, Infusive, to form a truly global firm, with offices in New York, London and Sydney. This transaction has completed, with Conduit rebranding to Infusive in Australia.

The combined group has ∼US$400 million in assets and I will lead as CEO.

Infusive’s research led process builds on decades of specialised and successful investing in consumer businesses from Founder, Luca Padulli. I met Luca several years ago and have strong relationships with key shareholders.

The highly targeted strategy focuses on the consumer and select companies that satisfy customers’ needs and wants, often through generations. There is strong alignment in research, strategy and process, given Conduit’s (historic) focus on the consumer and demographic change.

Infusive will offer this strategy to Australian investors imminently, through a wholesale unit trust. This will mirror Infusive’s Consumer Alpha Global Leaders UCITS Fund in Europe, which launched in 2016. Infusive Asset Management Inc is also SEC regulated in the US. Managed accounts can be offered in each jurisdiction.

As part of our research, I’m pleased to share Infusive’s Consumer Big Ideas presentation, which can be downloaded here. It contains approximately 100 pages of charts and analysis and is illustrative of the team’s deep research, global reach and expertise, as we look to 2030.

If you would like to discuss our research and market manifestations, please contact me (Jack@infusive.com)  or Investor Relations (IR@Infusive.com). More information about Infusive can be found at our website here.

We sincerely thank all those who have supported Conduit Capital and look forward to engaging with existing and prospective clients.

What an exciting time to be alive!

Jack Dwyer