Alceon appoints MSC Trustees
MSC Trustees has been appointed as the new trustee and responsible entity for two Alceon funds following a tender process undertaken by the real estate division of fund manager Alceon Group.
Ratified by unitholders on 22 July, MSC Trustees would replace incumbent trustee, Real Estate Partners (part of Certane Group), for Alceon’s Australian Property Fund and its Debt Income Fund.
MSC group managing director, Matthew Fletcher, said: “We are so pleased to assume the trustee responsibilities for two established funds operated by such an experienced fund manager in the Alceon Group.
“We are grateful to Grant Atchison and Omar Khan at Alceon for undertaking such a thorough process in selecting their new trustee and for the endorsement of unitholders, and we look forward to supporting the continued growth of both the Alceon Australian Property Fund and the Alceon Debt Income Fund.”
Alceon Group was founded in 2010 by funds management veterans, Trevor Loewensohn, Phil Green and Morris Symonds, and now had over $4.3 billion in funds under management across real estate, private equity, private credit and liquid strategies.
The Alceon Australian Property Fund had operated since November 2011 and comprised a hybrid portfolio of listed and unlisted property and infrastructure investments, with a target benchmark of 50% A-REITs and listed infrastructure and 50% unlisted property and infrastructure.
The Alceon Debt Income Fund had operated since October 2019 and comprised a portfolio of loans secured by registered mortgages held over Australian property, mostly on the east coast of Australia.