The new LIC, which was established to invest in global infrastructure securities, will be managed by Cohen & Steers Capital Management, an Argo-issued statement said.
Argo and AGLI chairman Ian Martin said: “We have found the right partner in Cohen & Steers, and their methodical and disciplined investment process, backed by a worldwide team of very experienced portfolio managers, is strongly aligned with Argo’s investment philosophy.”
Argo is being advised by Rothschild, with Morgan Stanley, Morgans and Ord Minnett acting as joint lead managers.
Co-lead managers are Bell Potter and Shaw ICS Advisory.
CBA Equities and Taylor Collison are acting as joint arrangers and joint lead managers.
The offer is expected to open on 26 May 2015 and will close on 19 June 2015.
AMP appoints new group general counsel
Australian Unity hires former ANZ Wealth exec
First State Super announces new CEO
Corporate governance and advocacy in China
The shifting LIC landscape
The perils of chasing niche infrastructure