Alceon Group and Freehold IM merge businesses
Freehold Investment Management and privately owned financier and multi-strategy investment manager, Alceon Group, have announced they have combined their businesses, with real estate funds under management increasing to over $2.5 billion.
This followed an acquisition of a 40% stake by Alceon in the Freehold business 18 months earlier and the companies had launched their first jointly-managed fund, the Freehold Debt Income fund.
The company said that its flagship Freehold Australian Property fund would continue to operate under the Freehold brand, while all debt strategies would be consolidated under the Alceon brand.
In a joint statement about the move, Trevor Loewensohn, managing director of Alceon, and Grant Atchison, managing director of Freehold, said: “We are very excited about the combination of our businesses. We have had an excellent working relationship for many years, which has been further developed over the past 18 months and combining the businesses provides us with a wonderful opportunity to further expand and enhance our investment capabilities and solutions for our clients”.
Following the merger, Atchison was appointed head of real estate funds management leading the development of the institutional and wholesale real estate funds management for the combined group. He would also assume responsibility for the management and operation of the Alceon Real Estate Senior Debt fund.
At the same time, Omar Khan, currently executive director and portfolio manager for the Freehold Debt Income fund, would be now head of wholesale capital, with responsibility for wholesale capital raising efforts and working with Atchison and the existing Alceon team to further develop and grow the business.
AUTHOR
Oksana Patron
Recommended for you
Grant Hackett has been promoted from CEO of Generation Life to head up the wider Generation Development Group.
Tribeca Investment Partners has made a distribution hire from Australian Ethical in a newly-created role focused on the national intermediary market.
Asset managers may be urged to diversify their product ranges, but investment executives have warned any M&A deal should avoid simply filling gaps and instead consider long-term value creation.
Specialist wealth platform provider Mason Stevens has become the latest target of an acquisition as it enters a binding agreement with a leading Sydney-based private equity firm.
