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Board says AMP Capital CommIF bids 'not compelling'


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.

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AMP investors wrest control of Pahari's GIF funds

AMP investors wrest control of Pahari's GIF funds
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AMP Capital's annus horribilis

AMP Capital's annus horribilis
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AMP Capital warns of 'conflicted, captive' Plenary


AMP Capital warns of ‘conflicted, captive’ Plenary
Jun 29, 2021 – 11.03am
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AMP Capital has warned investors of “unmanageable” conflicts of interest and being trapped in vehicles stuffed with “poor performing greenfield and brownfield assets” if unitholders in its $1.3 billion Community Infrastructure Fund jump ship to suitor Plenary Group.
The move is an escalation of the tit-for-tat battle between AMP and Plenary as both organisations fight to control the Community Infrastructure Fund (CommIF), which is also being tilted at by two other rival investment managers, Morrison & Co and Palisade Investment Partners.
AMP Capital is attempting to sandbag moves to break up the group’s assets under management. 

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AMP Capital dodges vote on $1.3b fund

AMP Capital dodges vote on $1.3b fund
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Cracks appearing in AMP Capital's crown jewel

Asset consultants are again looking askance at AMP as a spate of senior departures from AMP Capital’s infrastructure equity team raises concerns about stability.

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