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RISMARK SHARES EQUITY WITH LIBERMANS

18 October 2006 10:00AM
Rismark International said yesterday that the LCJB Investment Group, an investor owned by members of the Liberman family, "acquired a significant shareholding in Rismark". Greg Woolley, chief executive of LJCB joined Rismark's board of directors. Macquarie Bank also owns a minority stake in Rismark.Rismark also said in the media release that LJCB Investment Group "committed to invest $25 million as a cornerstone equity investment into a new property fund that Rismark has recently launched", presumably the Rismark International Advanced Real Estate Solutions Fund. The Australian today reports this material slightly differently, including that the LJCB investment is in an alternative entity called the Rismark Active Property Trust. The newspaper also reports that LJCB's stake in the core Rismark company is 25 per cent, and the same as the stake held by Macquarie Bank.The Rismark media releases names as "partners" Adelaide Bank, Wizard Home Loans, PMI Mortgage Insurance and RP Data. One omission from this list is ING, so perhaps the Dutch bank no longer plans to market the shared equity loans that Rismark will offer.It isn't clear when Adelaide and Wizard will begin marketing the shared equity loans.

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