Mirvac Group is in advanced talks to take control of AMP Capital’s flagship office fund, in a deal slated to occur in parallel with Dexus’ wider move on AMP’s asset management arm.
Street Talk can reveal Mirvac has lobbed a revised proposal to take management rights to the $7 billion AMP Capital Wholesale Office Fund , in a push that involves support from a bunch of the fund’s largest investors.
The AWOF investors are working together and have hired advisers to help get Mirvac instated as the fund’s manager, sources said. Mirvac’s new push comes about six months after it missed out on AWOF’s management rights, following a review by the fund’s trustee. The trustee, advised by Jarden, took proposals from Mirvac and GPT Group, before signing a revised agreement withAWOF is one of the crown jewels within AMP Capital. The fund owns stakes in landmark office towers such as Quay Quarter in Sydney and Collins Place in Melbourne.
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