Macquarie takes majority Rismark stake
Macquarie Funds Group (MFG) has taken a majority stake in Sydney-based residential real estate funds management and research group Rismark.
Macquarie announced today that it had acquired a 53 per cent shareholding in Rismark but declined to disclose the price of the transaction.
It said that MFG would provide Rismark with global fund raising expertise, back-office funds management infrastructure and operational support services.
Commenting on the transaction, MFG head Shemara Wikramanayake said it would add to the range of investment options offered by MFG, giving clients access to Rismark’s residential real estate investment funds.
“In addition to acquiring a shareholding in Rismark, Macquarie’s commitment to co-invest in these funds demonstrates our support for Rismark’s investment strategies,” he said.
Rismark managing director Christopher Joye said the company had recognised a need to introduce a global institutional investment partner to expand its funds management business and assist in servicing the needs of local and offshore clients.
As a result of the transaction, the two companies have appointed Macquarie Group executive director Rowan Ross as chairman of Rismark.
AUTHOR
Mike Taylor
Recommended for you
Compared to four years ago when the divide between boutique and large licensees were largely equal, adviser movements have seen this trend shift in light of new licensees commencing.
As ongoing market uncertainty sees advisers look beyond traditional equity exposure, Fidante has found adviser interest in small caps and emerging markets for portfolio returns has almost doubled since April.
CoreData has shared the top areas of demand for cryptocurrency advice but finds investors are seeking advisers who actively invest in the asset themselves.
With regulators ‘raising the bar’ on retirement planning, Lonsec Research and Ratings has urged advisers to place greater focus on sequencing and longevity risk as they navigate clients through the shifting landscape.
