Schroders proposed taking over the investment mandate of GCP Asset Backed Income (GABI) from Gravis earlier this year, after the trust was hit by two sudden fund manager departures and a set of bad loans, Investment Week understands.
Sources with knowledge of the matter told Investment Week that Schroders' investment trusts sales team approached a number of shareholders at the beginning of 2023 to gather their views on potentially taking over the mandate. The proposal included shifting the trust's investment strategy to focus on real estate debt, with the firm's $88bn private assets arm, Schroders Capital, pitched to run the mandate. The firm also approached the board, the sources said. Gravis trusts GCP Infra and GCP Asset Backed Income end merger talks However, the board instead opted to propose the merg...
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