Jul 27, 2026 – 3.40pmThe clock is ticking for Pengana Capital, which has just over two weeks to prevent the depletion of the Pengana International Equities fund after a resolution was passed giving shareholders the chance to sell their entire stakes back to the listed investment company.Street Talk understands Pengana has informed PIA that it will launch legal proceedings against the company and its board members seeking to overturn the results decided at an extraordinary general meeting on Monday.Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.Angira Bharadwaj is a co-editor of Street Talk. She covers IPOs, capital raises, mergers and acquisitions and other breaking news in Australia’s capital markets. Previously, she covered financial services, state, and federal politics. Send tips to @angirab.60 on encrypted messaging platform Signal.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?