Experienced players behind new investment firm
Warwick Negus, Victoria Weekes, Tony McDonald and Bruce Dungey have emerged at the head of a new investment company which will be looking to co-invest in direct property assets alongside Washing H Soul Pattinson (WHSP).
The company is URB Investments Limited, which has announced a prospectus with the Australian Securities and Investments Commission (ASIC) and announced its intentions to the Australian Securities Exchange (ASX) today.
The ASX announcement said URB was seeking to raise up to $200 million at $1.10 per URB Security with WHSP being offered a priority allocation.
The announcement said URB would be seeking to capture long-term value by investing in equity assets and direct property assets with exposure to urban renewal and regeneration.
It said URB’s investment strategy was to develop an investment portfolio that combines equity assets and direct property assets, with equity assets comprising at least half of investment portfolios.
The announcement said URB would be managed by Contact Asset Management which is currently the manager of BKI Investment Company Limited.
Recommended for you
Clime Investment Management has faced shareholder backlash around “unsatisfactory” financial results and is enacting cost reductions to return the business to profitability by Q1 2025.
Amid a growing appetite for alternatives, investment executives have shared questions advisers should consider when selecting a private markets product compared to their listed counterparts.
Chief executive Maria Lykouras is set to exit JBWere as the bank confirms it is “evolving” its operations for high-net-worth clients.
Bennelong Funds Management chief executive John Burke has told Money Management that the firm is seeking to invest in boutiques in two specific asset classes as it identifies gaps in its product range.