van Eyk sale almost finalised
The sale of van Eyk is expected to be finalised this week, with administrators very close to signing off on a deal on the research house's key assets.
A spokesman for administrator, Trent Hancock, of Moore Stephens Sydney Corporate Recovery Group, said while he did not want to give a stringent time frame, he expected the agreement to be "crystalised" by the week's end.
However, he stressed a meeting of creditors would be held before 21 October.
The administrator drew expressions of interest from 46 parties from across the financial services spectrum.
van Eyk went into voluntary administration earlier this month, a move its CEO called "regrettable" but "necessary" under the businesses corporate structure.
It followed a $31 million illiquid investment in the van Eyk Blueprint International Share Fund by UK-based hedge fund, Artefact Partners, which saw redemptions suspended on four Blueprint funds.
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
