About Penny Nikoloudis
Penny specialises in the areas of funds management and financial services regulation.
Penny advises a diverse range of Australian and international clients across the full spectrum of the funds management industry, including in relation to:
- the establishment and operation of retail and wholesale investment funds and other financial products;
- product disclosure statements, offer documents and other financial product disclosure obligations and due diligence processes;
- licensing and conduct obligations under Australian financial services laws;
- contractual arrangements with fund service providers, including custodians, administrators and investment managers; and
- liaising with ASIC and other regulators about matters such as relief applications, breach notifications and compensation issues and licensing matters.
Penny has also acted on a number of significant fund-related transactions, including:
- the spin-off by Woolworths Limited, and IPO, of Shopping Centres Australasia Property Group.
- the acquisition of Charter Hall Office REIT by the consortium of investors comprising an affiliate of Government of Singapore Investment Corporation, the Public Sector Pension Investment Board of Canada and a member of the Charter Hall Group.
- the A$3.5 billion acquisition of Intoll Group by Canada Pension Plan Investment Board.
- the work-out, restructuring and debt-to-equity conversion involving Centro Properties Group.
- the A$2 billion acquisition by Canada Pension Plan Investment Board of stapled securities in Macquarie Communications Infrastructure Group and of its manager, Macquarie Communications Infrastructure Management Limited.
- the capital partnership arrangements between DEXUS Property Group and one of the largest institutional pension funds in the world, including their co-investment in a selection of DEXUS’ major Australian industrial property projects.
- Platinum – establishment of the Platinum Global Fund, an unlisted fund admitted to the mfund settlement service operated by the ASX.
- Goldman Sachs – on various fund-related matters, including the establishment of new retail funds and rollover of disclosure documents.
- Mirvac Group capital partnership with TIAA-CREF.
- Mirvac Funds Management Limited – acquisition of Mirvac Industrial Trust by a member of the Goldman Sachs Group.
- Logos Group – co-ownership and investment arrangements with a large sovereign wealth fund.
- The Trust Company/Perpetual – establishment of MITs for a range of offshore investors and sovereign wealth funds in the real estate sector.
- Grocon – creation of an Australian-based full service real estate and asset management platform with UBS Global Asset Management.
- Grosvenor Group – investment in the Australian Industrial Property Partnership, alongside Goldman Sachs and Propertylink.
- GIC – establishment of its joint venture with Macquarie for the purchase of an interest in specialist student accommodation developer and operator, Iglu.
- DEXUS Property Group – establishment of a capital partnership with the National Pension Service of Korea to co-invest in industrial property projects.
- the Goodman Group-led consortium of global investors(Goodman Group, CPPIB, CIC and APG) – A$1.4 billion acquisition of ING Industrial Fund and establishment of Goodman Trust Australia.
- GIC, PSP and Charter Hall consortium – acquisition of Charter Hall Office REIT and the establishment of Charter Hall Office Trust.
- senior lender hedge funds – restructure of Centro Properties Group, involving the aggregating of funds and a debt-to-equity conversion.
In recent years, Penny has also had experience in financial services related insolvencies and litigation, having advised lenders, receivers and company boards in connection with the Timbercorp, Willmot Forests and Banksia Financial Group insolvencies.