IFM Investors, ISPT $240b mega-merger enters the final round

The slow-moving dance to merge infrastructure heavyweight IFM Investors with property platform ISPT – to create an investment management behemoth run by industry funds with near $240 billion of assets – has entered the final round, with a decision expected by mid-November.

A tie-up between the two investment platforms has been mooted in the past, but this time around the merger proposal has maintained enough traction to proceed to an offer. Detail on the proposed deal is yet to emerge. Industry observers expect any deal to be structured on a “no consideration” basis, given the large crossover in industry fund super shareholders between the two platforms.

The 2023 financial year accounts for IFM, lodged on Friday, show its growth in funds under management fell by almost half, to 8.1 per cent compared with 15.6 per cent in the previous year. The management platform itself delivered a minor bump in profit to $138.1 million in 2023, up from $136.9 million.

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