ARC exits its 75% Merewether holding
Private investment player, Arc Funds Limited has trimmed its sails, selling its stakes in both boutique small cap player, Merewether Capital Management and ARC Fund Operations.
ARC announced to the Australian Securities Exchange on Friday that it had agreed to sell its 72% holding in Merewether Capital Management for $100,000 in cash and that it was exiting ARC Fund Operations for $250,000 cash.
ARC has been the major backer of Merewether Capital since late 2021 with ARC chief executive, Scott Beaton, being director of the Merewether investment committee .
The ASX announcement said the disposals form part of the company’s broader strategy to simplify its corporate structure and redeploy capital toward growth initiatives across funds management, advisory and credit-related activities.
It said the exits would also strengthen its balance sheet.
The statement said ARC’s strategy remained unchanged with the company continuing to offer a diverse range of investment opportunities across multiple asset classes.
if Peter Johnston had stood back and actually thought about what was happening I dare say he's forgotten that there…
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