Rothschild boss buys Arrows
The chief executive of Rothschild Australia’s Golden Arrow Funds, Clive Donner, has bought out the funds for an undisclosed amount.
The management buyout was flagged in a prospectus issued earlier this month for the float of the funds, now called LinQ Resources Fund, which has received pre-float commitments of $47 million.
Formerly comprising Golden Arrow Fund and the Golden Arrow Fund 11, LinQ Resources Fund currently has about $70 million under management.
LinQ will have in excess of $90 million under management before it will be opened to investment by the general public and other institutions.
Rothschild Australia chief executive Richard Martin said the deal ensures a “continuation of management” of the funds, and had the support of current unit holders, including institutions, super funds and corporate investors.
Martin said the deal would also allow existing investors to participate in a listed vehicle in future, and attract a broader range of new investors to the fund.
Donner said LinQ would continue to invest in a “broad range of mineral commodities and mining companies at all stages of development.”
Recommended for you
The central bank has released its decision on the official cash rate following its November monetary policy meeting.
Melbourne advice firm Hewison Private Wealth has marked four decades of service after making its start in 1985 as a “truly independent advice business” in a largely product-led market.
HLB Mann Judd Perth has announced its acquisition of a WA business advisory firm, growing its presence in the region, along with 10 appointments across the firm’s national network.
Unregistered managed investment scheme operator Chris Marco has been sentenced after being found guilty of 43 fraud charges, receiving the highest sentence imposed by an Australian court regarding an ASIC criminal investigation.
