Pengana Capital Group (ASX:PCG) plans to launch an investment trust focused on the shares of non-publicly traded artificial intelligence companies, according to a Monday filing with the Australian bourse.

The planned trust will be listed on the Australian Securities Exchange and will potentially invest in private companies that are engaged across the AI spectrum, including foundation models, physical AI, and AI applications, per the filing.

The investment trust would serve as an extension of the company's relationship with GCM Grosvenor, which has been managing private market investments on behalf of Pengana Private Equity Trust (ASX:PE1) investors.

The proposed listing of the trust is subject to several factors, including the completion of due diligence and various approvals.