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Pinnacle takes Perpetual funds
Mike Taylor
Pinnacle Investment Management subsidiary Palisade Investment Partners has announced an agreement to acquire Perpetual’s infrastructure funds, including the Diversified Infrastructure Fund, Regional Infrastructure and Rail Fund.
The funds have a total of $250 million in assets under management, with a focus on unlisted investments.
The transaction will see the key managers on the Perpetual infrastructure team – Roger Lloyd, Karen Fox, Vicki Rigg and Jim Fanning – moving across to Palisade to join existing team members Ian Mitchell and Peter Salisbury.
The funds will remain unlisted and are expected to be reopened to existing and new wholesale clients next month under the new Palisade management.
Commenting on the transaction, Palisade joint managing director Ian Mitchell said the acquisition would provide the company with a valuable platform and a pipeline of investment opportunities from which to grow the funds.
“The assets in each of the funds fit with Palisade’s strategy of focusing on niche, mid-sized infrastructure assets,” he said.
1 July 2008
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