Polar 993 announces first registered CCIV in Australia

Polar 993, a boutique provider of services to investment managers, today announced that it had registered Australia’s first Corporate Collective Investment Vehicle (CCIV). The CCIV has been established with the support of Merricks Capital, one of Australia’s leading fund managers focused on hard assets in Australia and New Zealand.

CCIVs are a new type of collective investment vehicle, providing a simple structure targeting foreign capital looking to invest in Australia.

Polar 993 founder Adam Lindell said, “Polar 993 is delighted to be the first professional trustee to register an investment vehicle under the new CCIV structure.

“The introduction of CCIVs is a game-changer for funds management in Australia and we are pleased to be a market leader in establishing a state-of-the-art solution”.

Merricks Capital Executive Chairman and Chief Investment Officer Adrian Redlich said Merricks Capital was pleased to support the initiative.

“As an innovative fund manager, we support important industry developments and Polar 993 is at the cutting edge.”

“While Merricks Capital’s strategy remains unchanged with its focus on investing in hard assets in the agriculture, commercial real estate and infrastructure sectors, we believe that the new regime may provide future opportunities to work with offshore investors.”
Polar 993 is the Corporate Director of the CCIV and has received ASIC authorization to operate CCIVs.

By establishing an umbrella structure with multiple sub-funds under it, the CCIV will provide investment managers with management and operational synergies while offering safeguards, as the assets and liabilities of each sub-fund are quarantined.