Keybridge closer to Aurora acquisition
Publicly-listed financial services group, Keybridge Capital Limited is closer to acquiring Aurora Funds Management Limited.
The two companies announced to the Australian Securities Exchange (ASX) today that they had signed a contract of sale for the purchase transaction consistent with terms announced in mid-December, last year.
The ASX announcement said the transaction remained subject to several conditions including the final approval processes of the Keybridge Board and the approval of Aurora's shareholders, however it noted that the directors of Aurora had publicly stated that subject to a superior offer they supported the sale.
Aurora Funds Management is the issuer and investment manager of the Aurora Fortitude Absolute Return Fund, the Aurora Absolute Return Fund, Aurora Dividend Income Trust, the Aurora Property Buy-Write Income Trust and the Aurora Global Income Trust.
The ASX announcement said Aurora's purchase by Keybridge would provide Aurora with capital to further the distribution of its expertise and provide additional resources to the investment management team.
Recommended for you
Bell Financial Group has appointed a chief investment officer who joins the firm from Clime Investment Management.
Private markets funds with “unattractive practices” could find themselves facing enforcement activity with ASIC chair Joe Longo stating he cannot rule it out in the future.
Despite ASIC concerns about private credit funds being accessed via the advised channel, there are questions regarding how high its usage actually is among financial advisers.
Challenger has looked to the superannuation industry for its appointment of a group chief investment officer, a newly-created role.
