valuation, page-30

It was an interview in AFR:

I am not one to breach their copyright so summarize it here with a few things I have found out...

1. target fund size $300 million - No comment on whether they will accept excess to that.
2. The target asset mix will be 20 to 50 per cent Australian equities, 30 to 50 per cent unlisted property and 5 to 20 per cent cash and fixed interest for the funding of future acquisitions.
3. To be named URB Investments.
4. Pitt Street Real Estate Partners - SOL owns them , has generated attractive returns for the company by targeting areas due to be re-zoned, gentrifying areas and maximising available floor space. seems like they will assist.
5. Aiming for fully franked dividends of 4 to 5%.
6. To be run by Contact asset management - They run BKI - a new investment management company majority owned by Mr Tom Millner and Mr Will Culbert, the current CEO and Portfolio Manager respectively of BKI. Mr Millner and Mr Culbert each own 40% of Contact, with the remaining 20% owned by Washington H Soul Pattinson and Company Limited.
7. A "loyalty option" which sees shareholders rewarded after holding the investment for a set period of time is also being considered.
8. The fund will charge a fee of 50 basis points per annum and a performance fee equal to 15 per cent of any return above 8 per cent as measured by pre-tax net tangible asset valuation.
9. It is understood that a priority offer will be extended to existing shareholders in Washington Soul Pattinson and BKI Investments.



It has been suggested that Transurban is a likely investment ...