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Sovereign Wealth Funds Briefing - Categorized | Financials

Future Fund to make $175 mln from selling Birmingham shopping centre

Posted on 21 March 2013

Australia’s Future Fund is set for a $175 million windfall with plans to sell its stake in a Birmingham shopping centre. As Britain was in the midst of the worst recession in a generation in 2009, the federal government’s investment fund gambled $300 million on a 33 per cent share buy up in the Bullring shopping centre, a futuristic shopping mall built in 2003 on the site of where a market has existed since the Middle Ages.
At the time the owner, a FTSE 100 property company, was struggling to balance its books and happy to off load a share………………………………………..Full Article: Source


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