RetireAustralia shareholding up for sale

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A substantial investor in Australia’s largest private village operator, RetireAustralia, is America’s J.P. Morgan Chase bank. The investment is through its Hong Kong based fund Global Special Opportunities Group which has US$2.1B under management. New US banking laws that limit what they can invest in, especially the Volker rule, are about to come into effect. Four American private equity funds have been shortlisted to negotiate with. The sale is not expected to affect RetireAustralia. J.P. Morgan bought the original shares from AMP Capital