In a surprising twist of fate, Quartz Capital (investment manager of private funds) have stepped in to rally support against conflict of interest by the Manager of Manulife US REIT and its Sponsor, Manulife, which is trying to package their exit as the REIT Manager along with conducting a private placement exercise with new units at a fire-sales price to Mirae Asset Global Investments, at the expense of all current unit-holders. In a strongly worded letter to the management and board of Manulife US REIT on 20 March 2023 , Quartz Capital expressed their shock and grave concerns over the above mentioned potential transaction at Manulife US REIT due to its potential poor corporate governance aspects and serious conflicts of interest concerns which can further destroy unitholders' value to the seemingly sole benefit of the sponsor.

http://dividendpassiveincome.blogspot.com/2023/04/quartz-capital-steps-in-to-protect.html

#blogspot