Wilson Asset Management is understood to have made a play to take management of the ASX-listed Blue Sky Alternatives Access Fund.
It is understood Wilson Asset Management is a shareholder in the fund and has started talking to other investors about a bid to take over the management rights.
It is understood Wilson Asset Management has also approached Blue Sky Alternative Access Fund’s representatives with a proposal.
It comes only days after Blue Sky Alternative Access Fund opted to appoint a new manager, Pinnacle Investment Management, with a five to 10-year mandate.
Blue Sky Alternative Access Fund has assets worth $228.2 million and trades on the Australian Securities Exchange.
Its assets are split across water rights, growth and venture investments, retirement villages and student accommodation, among other alternative investment classes.
Wilson Asset Management is a Sydney-based funds equities investor with a handful of listed investment companies across Australian small caps, large caps and microcaps, and global equities.
It would be the manager’s first foray into alternative assets.
Blue Sky Alternative Access Fund announced on Friday it had signed a new deal to appoint Pinnacle’s Alterum Investment Management as manager and rename the fund “Alternative Market Access Fund Ltd”.
The deal was to be put to a shareholder vote on December 13.
It comes after a review by Blue Sky Alternative Access Fund limited, which recommended leaving the Blue Sky Funds stable.
more to come