Board says AMP Capital CommIF bids ‘not compelling’ By Sarah Kendell 20 July 2021
AMP Capital’s independent board committee has rejected all three suitors lined up to take over management of its Community Infrastructure Fund (CommIF), saying its remaining senior staff have the experience to continue managing the fund despite a number of exits.
A letter from the chairman of the committee seen by InvestorDaily reveals that it has “unanimously” reached the conclusion that the recent departure of senior staff, including AMP Capital’s head of social care Julie-Anne Mizzi, director of infrastructure equity Jiren Zhou and CommIF head of asset management Simon Hunter, would not have a substantial impact on the running of the fund.
AMP Capital mugged by reality as more staff leave
Jul 4, 2021 â 7.00pm
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AMP Capital has suffered further resignations from its key senior infrastructure management team, undermining the companyâs attempt to remain in control of its $1.3 billion Community Infrastructure Fund.
AMP Capitalâs head of energy, Stasha Prnjatovic, blindsided the company with her resignation to join an offshore pension fund last week, days after the group spruiked her 13 yearsâ experience with CommIF as a message to investors who may be backing a move to shift control of the fund to rival suitor Plenary Group.
AMP Capital is attempting to sandbag moves to break up the groupâs assets under management.Â