This article is from the Australian Property Journal archive
FUNDS manager Viento Group has closed its $7 million capital raising for the Viento Diversified Property Fund, after failing to achieve the minimum subscription.
Viento launched the capital raising for its flagship fund in May this year, at $1.00 per unit and was offering 9.0% annualised distributions.
The funds raises were supposed to recapitalise the fund and reduce borrowings.
Following the failure of the capital raising, Viento said the fund will refund application monies and push forward with an alternative plan to recapitalise the fund through an asset disposal.
Australian Property Journal
