In April 2021, we announced to the market that we intended to simplify our investment business and pivot to become a separate, global private market investment manager and compete alongside some of the largest managers in this space.
We have completed significant work on this strategy over the last 12 months, including announcing the sale of our global equities and fixed income business to Macquarie Asset Management, and progressing the restructure of our multi-asset group business with AMP Australia.
These transactions provide a clear perimeter for our go forward business and allow us to progress more rapidly towards operational independence from our parent company.
As one of the most experienced players in the market, with an established track record in delivering returns on a diversified range of infrastructure and real estate funds globally, our sharpened focus on these areas will benefit our clients and shareholders for the long term.
As a fully autonomous and focused private markets business, we will be able to pursue and allocate capital to distinct growth opportunities across the globe and, as a separately listed entity, we believe we will be more agile in how we develop our business and drive growth.
Our roadmap to demerger in the first half 2022 will see us progress towards operating independently from AMP by the end of 2021; with our own leadership team, a new board and endorsed strategy, and, at demerger, we will go-to-market under a new brand.
The demerger will take time to execute successfully. But our clients can’t wait, and neither can we.
So, to demonstrate our commitment to the separation from AMP, and as we work towards developing an exciting new brand, we will be using PrivateMarketsCo as the consistent way we refer to our demerging private markets business. PrivateMarketsCo allows us to demonstrate the plan to operationally and legally separate from AMP and gives us the ability to focus on becoming listed on the Australian Securities Exchange.
While the use of PrivateMarketsCo is for the interim only, it demonstrates our move forward and our commitment to delivering a new future for our clients, our people and our prospective shareholders. We are excited about the journey we are going on and thank you for your continued support as we undertake this transformation.
Please speak with your Relationship Manager should you have any questions relating to this announcement. To find out more, click here.
Shawn Johnson, CEO AMP Capital
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