MacarthurCook hires former APN manager

Warren Boothman to boost distribution

By Vishal Teckchandani
Mon 07 Jul 2008

MacarthurCook hires former APN Property Group general corporate manager Warren Boothman to boost distribution.

Advertisement

Listed property investment boutique MacarthurCook has hired Warren Boothman to boost the company's product distribution.

Boothman, whose title will be head of institutional business, has nearly 20 years' experience in property and financial services.

He formerly worked at APN Property Group as general corporate manager.

At APN last year, Boothman helped successfully raise $25 million from wholesale investors for the APN Development Fund.

The fund raised a total of $105 million.

Boothman's appointment came after the MacarthurCook had formed an investment management and distribution alliance with IOOF on June 13.

On that day, MacarthurCook gave IOOF 13 per cent voting power in the company by issuing 3.45 million shares at $1.15 a piece to IOOF.

Under the agreement, MacarthurCook had become the preferred direct property and mortgage investment manager of the IOOF Group.

It also assumed responsibility for the management of IOOF's direct property fund.

AMP offered to buy MacarthurCook for $1.35 per share, or $31 million on June 10.

MacarthurCook's board had subsequently rejected the deal, after it claimed the offer was too low.

AMP has given no indication whether it would raise its offer.

Go to today's news

More stories by this author