Nearly 18 months after Ares put AMP Ltd in play, and 12 months after AMP Ltd announced its intention to demerge its investment arm AMP Capital, real estate players are all of a sudden scrambling over each other to try to blow up the demerger.
It’s understood there are at least four Australian real estate bigwigs in the Collimate Capital data room. At that time, it needs to be able to tell shareholders whether the demerger is happening or not. So, those lining up to try to snatch Collimate - and disrupt the demerger - have been told to put their best foot forward well ahead of April’s end.Di Pilla, having built his Home Consortium network from a bunch of former Masters sites less than a decade, wants his group to be a leading alternative asset manager.
Dexus also has form pinching Collimate assets - it merged its Dexus Wholesale Property Fund with AMP Capital Diversified Property Fund last year. As well as its 12-strong internal MThere’s also Mirvac, trying to take the prized, or at least parts of it. Mirvac also claims to have strong relationships with that fund’s investors.