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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 on Super Review and InvestorDaily, with a focus on funds management, superannuation, and institutional investment. 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.
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