This article is from the Australian Property Journal archive
BLACKWALL Property Funds has launched a bid to replace MacarthurCook Funds Management as the responsibility entity of the ASX-listed MacarthurCook Property Securities Fund.
BlackWall Property Funds CEO Stuart Brown said its associate Pelorus Private Equity has requested a unitholders meeting.
Pelorus is MPS’s largest independent investor holding just under 10%.
Brown said if appointed, BlackWall will undertake an asset sale program and return the net proceeds to MPS unitholders.
BlackWall has estimated that the assets sales could generate a distribution of between 14 and 20 cents per unit.
MPS fund manager Michael Goldman said it is examining the proposal and has recommended unitholders to take no action.
Property Review
