A New boutique property funds management company has been established, with former James Fielding employees Tony Pitt and Tracey Conn at the helm.
Pitt is the chief executive for the new operation, called 360 Capital Group, with Conn filling the role of chief operating officer.
Pitt describes the new venture as the challenge he was seeking, having successfully managed the JF Meridian Trust in his time at James Fielding.
The boutique property manager is currently in the process of applying for its Australian Financial Services Licence.
“We’re actually lodging our application now, and the process will probably take about one to two months. In the meantime, we’re preparing our Product Disclosure Statement and all those sorts of things, so we can get going pretty much straight away after we get our licence,” Pitt explained.
The new company plans to have three business arms, comprised of 360 Capital Advisory, which will provide real estate advice and strategy, 360 Capital Investments, which will enter into joint venture projects with selected clients, and 360 Capital Funds Management, which will be offering the 360 Capital Diversified Fund to the market in the months to come.
The diversified fund will be available to both retail and wholesale investors.
The distribution channels to be used have yet to be determined.
“The fund will be investing across commercial, industrial and retail assets. We’re planning to make the fund open to direct property, LPTs [listed property trusts], and the unlisted side of the market,” Pitt said.
