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
Having seen inflows of US$5.6 billion to its fixed income funds in the last quarter, Janus Henderson has closed on a deal with life insurer Guardian to secure funds to boost its product development.
One of Metrics’ four managing partners is to step back from the business next year, having worked at the firm since its inception in 2011.
VanEck’s Bitcoin ETF has amassed $290 million in assets in its first year, but the ETF provider has said financial advisers remain skeptical of the asset.
State Street has rebranded its State Street Global Advisors arm, which has US$4.6 trillion in assets under management, following a series of deals with financial services firms in recent months.