IML recommends new responsible entity for IEF

ING Management Limited (IML), the responsible entity (RE) of ING Real Estate Entertainment Fund (ASX: IEF), today announced that it has entered into an implementation deed with Torchlight (GP) 1 Ltd as general partner of the Torchlight Fund 1 LP (Torchlight). Subject to IEF unitholder approval the implementation deed will result in the change of RE of IEF from IML to Bodiam RE Limited (Bodiam RE) (the Proposal).

Bodiam RE is a wholly-owned subsidiary of Torchlight, an Australasian private equity fund.

Torchlight is managed by its general partner, Torchlight (GP) 1 Ltd (Torchlight GP). Torchlight (GP) is a wholly owned subsidiary of Torchlight Investment Group Ltd (together  with its subsidiaries, Torchlight Group) which is part of New Zealand’s Perpetual Group. Perpetual Group was established in 1884 and is a New Zealand investment manager. Perpetual Group is owned by New Zealand Stock Exchange (NZX) listed Pyne Gould Corporation Ltd (NZX: PGC).1

To view the full ASX announcement please click on the PDF to the right.

For further information, please contact:

Daniel Hargraves  
Cheief Executive Officer  
ING Real Estate Entertainment Fund 
T: +61 2 9033 1000