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
The Reserve Bank of Australia's latest interest rate announcement has left punters disheartened on Melbourne Cup Day.
Equity Trustees has been selected as the responsible entity for two new funds, one from Coller Capital focused on private equity and a second investing in fixed income from FIIG Securities.
Funds managers are being urged by financial advisers to improve their “outdated” education and communication about alternative funds as they actively target them towards retail clients.
GAM Investments has appointed Eric Finnell as its managing director for Australia after his predecessor left to take up the CEO role at Global X.
