Starlight Private Global Real Assets Trust Reports Q2 2024 Results

TORONTO–(BUSINESS WIRE)–Starlight Investments Capital LP (“Starlight Capital”), on behalf of Starlight Private Global Real Assets Trust (the “Trust”), announced today the Trust’s financial results for the three months ended June 30, 2024.

Q2 2024 HIGHLIGHTS

Portfolio Investments

As at June 30, 2024 (“Q2 2024”), the Trust had an investment of $237,797 (December 31, 2023: $263,682) in Starlight Global Real Estate LP and Starlight Global Infrastructure LP (the “Public Portfolio”) and $28,051,295 in six investments in its private portfolio (December 31, 2023: $28,191,321) (together with the Public Portfolio, the “Portfolio”). The Public Portfolio had 56 investments with an effective market value of $172,534 in publicly traded global real estate and infrastructure securities.

The Public Portfolio’s investment portfolio remains liquid, and the Trust does not anticipate any issues in being able to meet the liquidity needs of the Public Portfolio LP’s or the Trust.

Distributions

As at June 30, 2024, the Trust declared two distributions of $0.1523 per series A unit for a total distribution of $0.3046 per series A unit, two distributions of $0.1546 per series F unit for a total distribution of $0.3092 per series F unit and two distributions of $0.1575 per series I unit for a total distribution of $0.3150 per series I unit.

Quarterly Redemption of Units

On June 30, 2024, 66,296 series F units were redeemed under the Quarterly Redemption with a NAV of $11.558 for total proceeds of $766,251.

FINANCIAL AND OPERATIONAL HIGHLIGHTS

	As at June 30, 2024		As at December 31, 2023
Current assets	$	28,959,774	$	30,560,648
Current liabilities		418,365		1,875,635
Net assets attributable to holders of redeemable units per series
Series A		25,351		24,749
Series F		28,514,756		28,659,042
Series I		1,302		1,222
	$	28,541,409	$	28,685,013

ANALYSIS OF FINANCIAL PERFORMANCE

The Trust’s financial performance and results of operations for the three months ended June 30, 2024, and 2023 are summarized below:

	Three months ended June 30, 2024				Three months ended June 30, 2023
Investment gain (loss)		$	1,093,698		$	613,667
Expenses			(151,737	)		(188,203	)
Net investment income (loss)			941,961			425,464
Increase/(decrease) in net assets attributable to holders of redeemable units		$	941,961		$	425,464

Forward-looking statements

Certain statements in this press release are forward-looking and involve a number of risks and uncertainties, including statements regarding the outlook for the Trust’s business and results of operations. Forward-looking statements (“FLS”) are provided for the purpose of assisting the reader in understanding the Trust’s financial performance, financial position and cash flows as at and for the periods ended on certain dates and to present information about management’s current expectations and plans relating to the future. Readers are cautioned such statements may not be appropriate for other purposes. FLS involve known and unknown risks and uncertainties, which may be general or specific and which give risk to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, assumptions may not be correct and objectives, strategic goals and priorities may not be achieved. FLS are statements that are predictive in nature, depend upon or refer to future events or conditions, or that include words such as “may,” “will,” “should,” “could,” “expect,” “anticipate,” “intend,” “plan,” “believe,” or “estimate,” or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. FLS are not guarantees of future performance and are by their nature based on numerous assumptions.

Information contained in FLS is based upon certain material assumptions applied in drawing a conclusion or making a forecast or projection, including management’s perception of historical trends, current conditions and expected future developments, as well as other considerations believed to be appropriate in the circumstances. Although the FLS contained herein are based upon what Starlight Capital believes to be reasonable assumptions, Starlight Capital cannot be sure that actual results will be consistent with these FLS. The reader is cautioned to consider the FLS carefully and not to place undue reliance on FLS.

The forward-looking statements relate only to events or information as of the date on which the statements are made in this press release. Unless required by applicable law, it is not undertaken, and specifically disclaimed that there is any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

About Starlight Private Global Real Assets Trust

The Starlight Private Global Real Assets Trust’s investment objective is to provide unitholders with stable cash distributions and long-term capital appreciation through exposure to institutional quality real assets in the global real estate and global infrastructure sectors.

The Trust’s audited financial statements, the notes thereto, and Management’s Discussion and Analysis for the three months period ended June 30, 2024, can be found on Starlight Capital’s website at www.starlightcapital.com or www.sedarplus.com.

About Starlight Capital and Starlight Investments

Starlight Capital is an independent Canadian asset management firm with over $1 billion in assets under management. We manage Global and North American diversified private and public equity investments across traditional and alternative asset classes, including real estate, infrastructure and private equity. Our goal is to deliver superior risk-adjusted, total returns to investors through a disciplined investment approach: Focused Business Investing. Starlight Capital is a wholly-owned subsidiary of Starlight Investments. Starlight Investments is a leading global real estate investment and asset management firm with over 360 employees and $28B in AUM. A privately held owner, developer and asset manager of over 66,000 multi-residential suites and over 7 million square feet of commercial property space. Learn more at www.starlightcapital.com and connect with us on LinkedIn at https://www.linkedin.com/company/starlightcapital/.

Starlight Capital

1400–3280 Bloor Street West

Toronto, Ontario, Canada M8X 2X3

[email protected]
1-833-752-4683

starlightcapital.com

Contacts

For further information:

Dennis Mitchell

Chief Executive Officer &

Chief Investment Officer

1-416-855-2642

[email protected]

Graeme Llewellyn

Chief Financial Officer &

Chief Operating Officer

1-416-855-2643

[email protected]