POWERED BY MOMENTUM MEDIA
IFM Investors and ISPT explore potential merger
Industry super fund-owned IFM Investors and ISPT have confirmed they are exploring the merits of a potential merger at the request of significant shareholders.
A merger would recognise IFM and ISPT’s “complementary businesses and capabilities”, the firms told Super Review in a joint statement.
Infrastructure fund manager IFM’s investment capabilities included some $100.9 billion in infrastructure, $43.7 billion of debt investments, $43.7 billion in listed equities, and private equity assets. Among some of its Australian holdings were airports in Brisbane, Sydney, Adelaide, and Melbourne; Port Kembla, Port Botany, and Port of Brisbane; and Ausgrid.
Meanwhile, property platform ISPT held $22.2 billion portfolio which invested in and developed properties across office, residential, retail, industrial, education and health.
The firms also had an extensive common shareholder base, including super funds like Cbus, AustralianSuper, and HESTA.
It was not the first time the firms were in merger talks, according to media reports.
“Any merger must create value for the shareholders and unitholders of IFM Investors and ISPT and deliver strong financial outcomes for their members,” the firms said.
“Discussions are ongoing between the organisations as they seek to identify and assess the opportunities and risks for their shareholders, investors, businesses and people.”
As at 31 December 2022, IFM Investors had some $211 billion in funds under management (FUM). A potential merger with ISPT would bring the combined entity to over $230 billion FUM.
AUTHOR
Rhea Nath
Rhea L Nath is a journalist at Money Management and Super Review, with a focus on financial advice, investments, funds management, and superannuation. Previously, she covered small business and entrepreneurship news at Dynamic Business and multicultural issues at Indian Link Media Group. In 2022, she was named Young Journalist of the Year at the NSW Premier’s Multicultural Communications Awards.
Recommended for you
The central bank has announced its latest rate decision amid stubborn inflation and increasing geopolitical tension.
Aware Super has outlined its systematic approach to corporate engagement as institutional investors increasingly assert their influence on company boards and take on an active stewardship role.
The country’s second-largest super fund has completed its fourth SFT this past financial year and welcomes almost 5,000 new members.
The corporate fund has announced it is seeking a suitable merger partner as the number of corporate super funds in Australia continues to dwindle.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
66.99 3 y p.a(%)
2
Hills International
59.27 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
32.82 3 y p.a(%)
4
CFS FC Acadian Global Equity Long Short
32.44 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.01 3 y p.a(%)
Add new comment