LM Investment Management's $1 billion funding deal progresses

LM Investment Management has signed exclusive due diligence with two offshore real estate private equity funds.

According to the firm, both funds have expressed a strong interest in funding several property assets within the Managed Performance Fund and the First Mortgage Income Fund.

Due to the confidential nature of the due diligence process, LM chief executive Peter Drake said the firm was unable to name the funds at present.

He said the $1 billion offshore funding arrangement was progressing well as foreign equity investors recognised the strong economic credentials of Australia.




Related Content

Morningstar expands ETP coverage

Morningstar has expanded the number of its exchange trade products (ETPs) under coverage as the Australian ETP industry has grown significantly over t...more

AFA appoints general counsel, professionalism

Former Chartered Accountants Australia (CPA) head of professional conduct, Linda Vogel is joining the Association of Financial Advisers (AFA) in a new...more

Platinum’s NED resigns

Platinum Asset Management Limited has advised that its non-executive director and chair of the nomination and remuneration committee (NRC), Bruce Cole...more

Author

Comments

Add new comment