Ninepoint Partners plans to merge Global Real Estate Fund into Global Infrastructure Fund, pending unitholder approval
Ninepoint Partners LP has announced a proposal to merge Ninepoint Global Real Estate Fund (the Terminating Fund) into Ninepoint Global Infrastructure Fund (the Continuing Fund).
The Terminating Fund will no longer be available for sale effective immediately. Following the Merger, pre-authorized purchase plans for the Terminating Fund will transfer to the equivalent series of units of the Continuing Fund.
Through the Merger, holders of units of each series of the Terminating Fund will receive units of the same series of the Continuing Fund, except for Series T unitholders, who will receive Series A units of the Continuing Fund, on a dollar-for-dollar basis.
The Independent Review Committee has reviewed the potential conflict of interest matters related to the Merger and has provided Ninepoint Partners with a positive recommendation, determining that the Merger will achieve a fair and reasonable result for both funds.
Ninepoint Partners will seek approval for the Merger from unitholders of the Terminating Fund at a special meeting on or about September 18. Next month, further details of the Merger will be sent to investors in the Terminating Fund who are entitled to vote.
If unitholders approve, the Merger will be effective on or about October 4. The Terminating Fund will be wound up as soon as practicable following the Merger.
