Most of the wealth generated by today's iconic listed companies was created while they were still private. Pre-IPO equity gives Logan's wholesale clients access to that pre-listing value-creation — companies in the last few years before a liquidity event, at valuations institutional capital can transact at but retail platforms cannot reach.
Equity positions in late-stage private companies preparing for liquidity — IPO, secondary, or strategic sale. These are typically venture-backed businesses that have grown beyond venture stage, have material revenue and a defensible market position, and are 1–4 years from a listing event.
Companies are staying private longer. By the time a business lists, much of the value creation has already happened — and the IPO is the exit, not the entry. Approved pre-IPO strategies on Logan's list have annualised returns in the 30%+ range since inception, with target portfolios generating 25–30%+ IRRs from a diversified book of late-stage names.
Through institutional pre-IPO and private-shares funds on BGW's APL — vehicles that have negotiated direct access to late-stage private companies and offer Australian wholesale investors a way in. Logan also sources select direct allocations through Boston Global Group's investment-banking platform, where BGW retains pricing influence.
Some approved pre-IPO strategies offer monthly liquidity through periodic tender programs; most pure-private vehicles are illiquid until exit events. Risks include valuation mark-downs, delayed IPO windows, single-company concentration, and dilution. These strategies are restricted to wholesale or sophisticated investors and only ever sized as part of a diversified portfolio.
Logan will tell you straight — whether it earns its place, how much would make sense, and how it fits alongside what you already hold.
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