Stanfield has plans to increase its stake in the property funds management sector.
Fund manager Stanfield has bought Australian Public Trustees for $3.5 million.
Australian Public Trustees manages the Government Property Trust, APT Health & Aged Care Trust and Gersh Development Fund No 1.
Stanfield will now have $180 million in funds under management.
The acquisition, however, will be subject to shareholder approval with a meeting planned for late March.
"While completing the Australian Public Trustees acquisition, directors will continue to implement an aggressive acquisitions strategy to acquire other funds management businesses," the firm said in a statement.
The firm would concentrate on buying funds management businesses in the property sector, Stanfield managing director Darren Olney-Fraser said.
"Our business has traditionally been in managing government property. We will look to buy more funds management businesses that concentrate in the property sector," Olney-Fraser said.
He said the firm would possibly hire more distribution staff as it continued with its acquisition plans.
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