1st Oct 2015 16:53
LONDON (Alliance News) - GCP Infrastructure Investments Ltd Thursday said it has struck a deal whereby it will be granted first refusal on any investments that are chased by a new fund that will be managed by its investment manager.
GCP said Project Finance Investments Ltd, a proposed new fund for which will have the same investment manager as GCP, Gravis Capital Partners LLP, will seek to make investments in a portfolio of project finance loans across multiple sectors.
Under an advisory agreement, GCP had to give consent before Gravis could become Project Finance's investment manager because it is looking to make investments in similar areas as GCP.
"The Company has given its consent for the Investment Adviser to act as the investment manager of Project Finance, on the basis that the Investment Adviser has agreed with the Company that where it identifies an investment which, in its opinion acting reasonably and in good faith, falls within the Company's remit, the Company will have a right of first refusal," it said in a statement.
GCP shares closed up 0.3% to 121.60 pence per share on Thursday.
By Joshua Warner; [email protected]; @JoshAlliance
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