01 · Overview
Fund overview
The Spire Aero Aggregates Fund II (AUD) (the “Fund”) is a unit class of the Spire Capital Master Fund and feeder vehicle for Aero aggregates of North America (‘Aero’) (‘Underlying Fund’). The underlying fund is a manufacturer of lightweight foamed glass aggregate (“FGA”), a product that contains the same compressive strength as traditional gravel but is ~10% of the weight. Aero produces FGA in the USA utilising the leading European kiln technology under an exclusive USA license and has quickly gained the approval for use by numerous state Departments of Transportation (“DOTs”). Aero‘s products are utilised across a range of use cases, and in major infrastructure projects such as the I-95, Maine Turnpike, and Philadelphia International Airport.
Source: Spire Capital fund page, spirecapital.com.au, 28 October 2026.
02 · Facts
Fund facts
- Investor type
- Wholesale investors only
- APIR
- SPI4177AU
- Trustee and fund manager
- Spire Capital Limited
- Investment manager
- Valterra Partners LLC
- Underlying fund
- Valterra Aero Holdings, LLC
- Asset class
- Global Private Equities
- Vintage year
- 2022
- Distributions
- Annually as at 30 June
- Structure
- Closed-end unit class of the Spire Capital Master Fund, no redemptions
- Status
- Closed to new investment
- Currency
- AUD, unhedged
03 · Performance
Performance
Unit price
AUD 1.0066
As at 30 September 2026
Since inception
0.15%
Net return1
Net return by period to 30 September 2026
| Period | Net return |
|---|---|
| 1 month | 3.02% |
| 3 months | -0.92% |
| 6 months | -1.82% |
| 1 year | -11.70% |
| Since inception1 | 0.15% |
1 Source: Spire Capital, as at 30 September 2026.
04 · Distributions
Distribution history
Cash distribution per unit by period (cents)
| Period | Cash (CPU) | FITOs (CPU) | Ex-distribution unit price (AUD) | Components |
|---|---|---|---|---|
| 30 June 2025 | Nil | Nil | 1.1522 | Not published |
| 30 June 2024 | Nil | Nil | 1.0508 | Not published |
| 30 June 2023 | Nil | Nil | 1.0554 | Not published |
| 30 June 2022 | Nil | Nil | 1.0565 | Not published |
CPU: cents per unit. FITOs: foreign income tax offsets. Source: Spire Capital, fund distribution records, as published on spirecapital.com.au, 28 October 2026.
05 · Documents
Documents and forms
Monthly reports and manager updates are issued to investors through the Spire Investor Portal.
The fund is closed to new investment. Existing investors can transfer units off market using the transfer form, and update their details with the forms listed. Enquiries to info@spirecapital.com.au.
Investor login[Disclaimer: existing Investment Solutions wholesale wording, unchanged, subject to compliance review.] Past performance is not a reliable indicator of future performance.