GPT Group bids for Commonwealth Property Office Fund
Publicly listed property company, the GPT Group, has announced its intention to make an off-market bid for the Commonwealth Property Office Fund — something it believes will trump a Dexus/CPPIB proposal.
The bid was announced to the Australian Securities Exchange (ASX) today, with the company saying the acquisition would position GPT as the leading owner and manager of office assets in Australia while significantly expanding its funds management platform.
The ASX announcement said the GPT Wholesale Fund was committed to acquiring five CPA assets valued at $1.1 billion when GPT was in a position to undertake compulsory acquisition.
Recommended for you
Australian fund managers are actively seeking to launch Cayman versions of their funds to attract offshore flows, with Regal Partners set to launch its latest offering this month.
As private markets gain traction in Australia but only a limited pool of talent is available, three recruiters explore whether fund managers should consider looking overseas to find top talent.
With an explosion of private credit managers appearing in the market, two alternatives experts believe a consolidation is needed to maintain the quality of the sector.
Bentham Asset Management has become the latest fund manager to expand its distribution team as it reports increased interest in its credit strategies.
