Experienced players behind new investment firm
Warwick Negus, Victoria Weekes, Tony McDonald and Bruce Dungey have emerged at the head of a new investment company which will be looking to co-invest in direct property assets alongside Washing H Soul Pattinson (WHSP).
The company is URB Investments Limited, which has announced a prospectus with the Australian Securities and Investments Commission (ASIC) and announced its intentions to the Australian Securities Exchange (ASX) today.
The ASX announcement said URB was seeking to raise up to $200 million at $1.10 per URB Security with WHSP being offered a priority allocation.
The announcement said URB would be seeking to capture long-term value by investing in equity assets and direct property assets with exposure to urban renewal and regeneration.
It said URB’s investment strategy was to develop an investment portfolio that combines equity assets and direct property assets, with equity assets comprising at least half of investment portfolios.
The announcement said URB would be managed by Contact Asset Management which is currently the manager of BKI Investment Company Limited.
Recommended for you
Recommending Platinum shareholders to enact the merger with L1 Capital, Morningstar has said it expects the combined firm will be able to moderate outflows and facilitate diversity in product range.
Elanor Commercial Property Fund has appealed to the Takeovers Panel regarding the takeover offer by family office Lederer Group, describing “disclosure deficiencies” in last month’s bidders statement.
Wholesale distribution is experiencing the most active hiring efforts as the decline in financial advisers means fund managers are focusing on high-net-worth investors and wealth managers instead.
With wealth managers and advisers having minimal capacity for fund research, a BNY report has found simple alternatives strategies from established providers are those which resonate best with that audience.
