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Article: Super fund snuggles up to Carnegie.
- Article from:
- Australasian Business Intelligence
- Article date:
- December 13, 2005
CopyrightCOPYRIGHT 2005 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Lisa Murray
Dec 13, 2005 (The Sydney Morning Herald - ABIX via COMTEX) -- Queensland industry superannuation fundSunSuper is taking a 5% holding in boutiqueinvestment banking firm Carnegie Wylie. It
will be the first outside stakeholder in thebusiness, which recorded a profit increase to$A9.5m in 2004-05, up almost 30%. SunSuper,which has about $A7.5bn in funds under management, will invest a minimum of $A200min the private equity business of CarnegieWylie. The latter will charge fees of below
2% after reaching agreement with SunSuper onthe structure of the charges, ...