IPO - Pengana Private Equity Trust, page-5

I like the asset class,  which is usually very hard to access,  very illiquid,  and reportedly
has done better than listed equities over the long run.
there is a nice 10 point key benefits summary on the website.
https://www.pengana.com/pe1/#second

I'm usually wary of LIC / LIT  IPOs as they often trade below NAV
but am interested in what they are calling alignment shares which hopefully
will support the share price.
A 5% uplift in net asset value on the allotment date is expected to be created by the issue of PCG shares equal to 5% of the total amount raised under the Offer into the Trust for nominal consideration.