Private equity group Blue Sky, which has 50% equity in Tim Russell and Mark Taylor’s Aura village operator, has been hit by short sellers led by Glaucus Research Group, a ‘Us activist hedge fund’.
The Fin Review’s Street Talk section is reporting the board of the ASX-listed real estate and private equity firm has brought in investment bank Greenhill and law firm Herbert Smith Freehills to address issues following Glaucus’ recent report that valued its assets at $1.5 billion “at most”. Its assets under management were valued at $4 to $4.25 billion at June 30 2017.
Its shares have dropped 73% since Glaucus released the report a month ago, from $11.43 to $3.15.
Aura tells us that funding for their eight projects is quarantined from Blue Sky and reminds us they have Singapore’s SC Capital in the mix as well.
