Fund manager acquires 33% of Kinloch Funds
4 February 2008
Australian fund manager acquires 33% of Kinloch Funds Management
Kinloch Funds Management is pleased to announce that listed Australian real estate funds manager MacarthurCook Limited has acquired a 33% stake in the company.
Melbourne based MacarthurCook manages approximately $A1.5 billion in a number of specialist property and real estate securities funds in Australia and Singapore. The company’s largest shareholder is an associate company of the St George Banking Group.
Funds Management, established in May 2007 and based in
Wellington, provides specialist property and real estate
“MacarthurCook brings an outstanding track record in real estate fund establishment and management,” said Mr Neville Todd, Joint Managing Director of Kinloch Funds Management. “We are delighted that MacarthurCook has elected to enter the New Zealand market in this way and we are looking forward to working closely with them.
“The investment in Kinloch is also a strong endorsement of the property investment skills of Mark Petersen, former managing director of Shortland Properties, who heads up the property team at Kinloch.”
Mr Craig Dunstan, MacarthurCook Limited Managing Director, said “the acquisition of an interest in Kinloch expands the activities of MacarthurCook Limited into the New Zealand marketplace and brings a relationship with two of New Zealand’s leading industry executives.”
“We see significant growth potential in the New Zealand savings industry and with it an emergence of new funds that specialise in direct and indirect real estate assets.”
MacarthurCook Limited (MCK) is an Australian Securities Exchange listed company with offices in Australia and Singapore, specialising in the investment management of direct property, real estate securities and mortgage assets.
MCK manages approximately $A1.5 billion on behalf of over 25,000 investors. MCK is a quality endorsed company (ISO 9001:2000 international standard accreditation), and is the investment manager for thirteen funds including: MacarthurCook Industrial REIT, MacarthurCook Industrial Property Fund, MacarthurCook Office Property Trust, MacarthurCook Retail Property Trust, MacarthurCook Diversified Property Income Fund, MacarthurCook Mortgage Fund, Advance Mortgage Fund, MacarthurCook Property Securities Fund, MacarthurCook Asian Real Estate Securities Fund, Advance Property Securities Fund, RMR Asia Pacific Real Estate Fund and RMR Asia Real Estate Fund.
The MacarthurCook Property Securities Fund is listed on the Australian Securities Exchange and the Singapore Securities Exchange. The MacarthurCook Asian Real Estate Securities Fund and the MacarthurCook Industrial Property Fund are listed on the Australian Securities Exchange. The MacarthurCook Industrial REIT is listed on the Singapore Securities Exchange. The RMR Asia Pacific Real Estate Fund and RMR Asia Real Estate Fund are listed on the American Stock Exchange.
The Company has approximately 1,000 shareholders, the largest of which are Ascalon Capital Managers Limited, an associate of the St George Banking Group with about 18 per cent, and MCK directors and senior executives, who hold 15 per cent.
In 2005, 2006 and 2007 BRW magazine named MacarthurCook Limited as one of Australia’s fastest growing companies in its Fast 100 list.