AMP weighs options for $7b office fund
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AMP Capital could jeopardise as much $45 million in revenue annually if it loses control of its flagship $7 billion office fund to a rival manager â a potential loss that may prompt its parent, AMP, to consider how to soften the blow.
The estimated revenue delivers as much as $16 million in earnings for AMP Capitalâs management of the fund, according to estimates earlier this month by Macquarie analysts.
While retaining control of the fund remains AMPâs priority, the Macquarie estimates have taken on greater significance after a review of the AMP Capital Wholesale Fund moved firmly forward into a crucial second stage, with a shortlist of four aspirant fund managers vying for control against AMP Capital.
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Owners head for the exit at $1.8b Pacific Fair mall
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Preparations are under way for a potential full sell-down of one of the Gold Coastâs best-known shopping centres, the $1.8 billion Pacific Fair, in what could become the biggest single deal yet in the retail real estate sector.
While the mooted sale is being pursued through two separate processes, the overall divestment carries significant implications for the broader sector, for shopping mall owners and their investors. It will set the first benchmark price through sale for a major mall following the pandemic disruption of the past 18 months.
Pacific Fair shopping centre on the Gold Coast underwent a major redevelopment in 2016.Â
Jarden Australia hires ex-UniSuper guru Mark Himpoo
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Well known ECM deals investor and ex-UniSuper stockpicker Mark Himpoo has landed a plum new gig.
The appointment was announced internally at Jarden on Wednesday morning, alongside news that the investment bank had picked up Transurban dealmaker Jackson Ross to join its corporate advisory team as a director.
Jarden Australia has recruited one of the best known dealdoers in Australian equity capital markets.
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Himpoo would report to Jarden chief executive Robbie Vanderzeil and its NZ-based chief commercial officer Johnathon Klouwens, the announcement said. He’s been at UniSuper since 2011, and prior to that was Blackrock’s head of fundamental equities.