We are excited to announce McMahon Clarke has secured the first AFS licence in Australia authorising a person to operate a corporate collective investment vehicle (CCIV) as corporate director and we congratulate our client Stara Real Estate Capital & Advisory (Stara) on this significant industry milestone.
The CCIV is a new type of company designed for collective investment. The framework took effect on 1 July this year and supplements the trust-based managed investment scheme regime. You can read about the new CCIV regime in the latest edition of our CCIV Guide.
Stara Managing Director Paul Weightman (former CEO & Managing Director and founder of Cromwell Property Group) said ‘This landmark achievement is testament to McMahon Clarke’s deep expertise as front runners in the funds management industry’.
‘The CCIV regime is a long-awaited and welcome development for the Australian funds management industry and helps resolve some of the hurdles we’ve faced with the trust-based managed investment scheme,’ Paul said.
We anticipate CCIVs will become the de facto Australian funds management vehicle in time, and we have been tracking the development of the CCIV for some years.
We encourage you to contact us so we can discuss whether and how the vehicle may benefit your business.