PMG Funds sells half of business to 360 Capital for $17.5m

Fri, 19 Feb 2021

PMG Funds said it has sold half the business to ASX-listed 360 Capital for $17.5 million.PMG was founded in 1992 by Denis McMahon and will have $653 million in assets under management by April 30 in five different unlisted commercial property funds.McMahon will continue as chair while three members of the 360 Capital team will join PMG's board plus another independent director, taking director numbers to eight.Existing directors Scott McKenzie, who is PMG's chief executive, and Nigel Lowe, who also works for PMG, will remain on the boar...

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