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PEET LIMITED — Board/Management Information 2007
Dec 13, 2007
65600_rns_2007-12-13_d9e978bf-1f64-444d-8b99-aeadf4c51f1d.pdf
Board/Management Information
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Perth Level 7, 200 St Georges Terrace Perth WA 6000 Telephone (08) 9420 1111 | Facsimile (08) 9481 4712 Email [email protected]
Friday 14 December 2007
New funds manager for Peet Limited
Peet Limited has boosted its funds management business with the appointment of a new Head of Funds Management.
Peter Dumas, formerly Group General Manager of Transactions for the Multiplex Property Group, will join the national asset manager, funds manager and land syndicator in February 2008.
Mr Dumas has more than 15 years’ experience working with some of Australia’s leading property funds management businesses, including Multiplex and AMP.
Peet Limited Managing Director, Brendan Gore, said the further development of the company’s funds management business, including its management of syndicated developments across Australia, was a major part of the company’s future plans.
“Increased product flow, the potential for larger syndicate capital raisings and the diversification and growth of our retail and institutional distribution network will all be key growth drivers for Peet in the years ahead,” said Mr Gore.
Peet Limited raised $57 million in just three syndicate releases last financial year and has cemented its position as Australia’s leading residential land syndicator, raising a total of more than $295 million in recent years.
At 30 June 2007, Peet Limited was developing 23 estates on behalf of syndicates and had paid its syndicate investors a total of $85.8 million in dividends for the year.
Peet’s most recent syndicate opportunity is Peet Tri State Syndicate Limited – the company’s first with land in three states. The still-current Prospectus details forecast estimated returns of 19.1% per annum based on a minimum capital raising of $30 million.
As well as heading up Peet’s syndicates business, Peter Dumas will also take charge of Peet Limited’s successful unlisted property fund, Peet Income Property Fund, and help drive the company’s strategic move into the wholesale funds area as well.
“The appointment of Peter Dumas to Peet Limited expands our expertise in this area and positions us well for the future,” said Mr Gore.
During his time at Multiplex, Mr Dumas was responsible for acquisitions and divestments across the Multiplex Group as well as managing the investment into the AMP NZ Office Trust and its Management Company. Most recently, he managed the creation and listing of a $600m European property fund and was involved in the expansion of the Middle East construction business into India.
Perth | Melbourne | Brisbane
Enriching lives since 1895 | Asset Manager | Land Syndicator | Fund Manager Peet Limited | ACN 008 665 834 | Australian Financial Services Licence 225772 | Licensed Real Estate Agent in WA
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Perth Level 7, 200 St Georges Terrace Perth WA 6000 Telephone (08) 9420 1111 | Facsimile (08) 9481 4712 Email [email protected]
Prior to this, Mr Dumas held the position of Director of Capital Transactions for the Ronin Property Group – one of the largest owners of commercial office buildings in Australia and New Zealand. This followed his involvement, in a management capacity, in the creation of the AMP Listed Property Trust business, which grew to more than $5 billion in funds under management prior to its sale.
Mr Dumas holds a Masters of Applied Finance from Macquarie University, and a Bachelor of Economics from the University of Western Australia.
He takes up his position at Peet Limited in February 2008.
For more information please contact:
Marie Mills or Louisa Mitchell Mills Wilson Communication Consultants [P] 08 9228 1999 [F] 08 9228 1970
Marie Mills [M] 0418 918 202 [email protected]
Louisa Mitchell [M] 0434 308 208 [email protected]
Perth | Melbourne | Brisbane
Enriching lives since 1895 | Asset Manager | Land Syndicator | Fund Manager Peet Limited | ACN 008 665 834 | Australian Financial Services Licence 225772 | Licensed Real Estate Agent in WA