Listed 360 Capital Group plans to launch a new property securities fund next month called Capital AREIT Fund.
Former APN Property Group executive Damian Diamantopoulos will head the fund run by 360 Capital’s Melbourne office.
The AREIT Fund will be an unlisted managed investment scheme available to retail and institutional investors and will hold listed property and property-related securities.
“It will focus on producing sustainable and regular income as a fundamental part of its overall philosophy,” the group said in a statement yesterday.
360 Capital managing director Tony Pitt said the new vehicle would compliment the growth aims of the company.
“I am extremely pleased that Damian has agreed to join 360 Capital. He has extensive experience in the funds management industry and a proven track record of success,” Mr Pitt said.