Three months since it was first announced, the firms have confirmed the proposed merger of the Cromwell Direct Property Fund and the Australian Unity Diversified Property Fund will not be going through.
With the third quarter behind us, Money Management collates several Australian fund launches over the last three months, as well as notable fund manager deals.
Cromwell Property Group (Cromwell) and Australian Unity Property have agreed to bring two unlisted property funds under the one roof, creating a $1.1 billion entity.
Street Talk can reveal Cromwell’s Direct Property Fund and Australian Unity’s Diversified Property Fund would merger, in a deal expected to be announced Friday.