18th Mar 2015 07:50
LONDON (Alliance News) - International Public Partnerships Ltd on Wednesday said the parent company of its investment adviser, Amber Fund Management Ltd, has sold a 50% stake to US real estate group Hunt Companies Inc.
Under the deal, on which IPP did not provide any financial details, Hunt will buy a 50% stake in the Amber group of companies, with the remaining stake to be held by existing management shareholders.
As part of the deal, IPP will given a 'first look' over investment opportunities in the US that meet its investment criteria.
"We are pleased to have got to know the Hunt Group of Companies. They are significant participants in public sector infrastructure in the US which is seen by the Company as a significant growth market for infrastructure investment in the medium term," said IPP Chairman Rupert Dorey.
"We are pleased to have extended our right of first look agreement with them and are optimistic that as a result we will see an enhanced flow of attractive investment opportunities from North America in future years," Dorey added.
By Sam Unsted; [email protected]; @SamUAtAlliance
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