Starlight Private Global Real Assets Trust Announces Unitholder Approval of Proposed Amendments and Mergers
TORONTO — Starlight Investments Capital GP Inc. (' Starlight Capital '), on behalf of Starlight Private Global Real Assets Trust (the ' Trust '), held a special meeting (the ' Meeting ') of holders of all series of units (' Unitholders ') of the Trust to consider and vote upon the proposed mergers (the ' Mergers ') of Starlight Private Global Infrastructure Pool, Starlight Private Global Real Estate Pool and Starlight Global Private Equity Pool into the Trust and certain amendments to the Trust prior to the Mergers (the ' Pre-Merger Amendments ') as described in the joint management information circular dated May 30, 2025 (the ' Circular ').
Article content
At the special meeting, Unitholders approved the special resolution to authorize the Pre-Merger Amendments and Mergers. The Pre-Merger Amendments are expected to be implemented on or about July 31, 2025, or in any event, prior to the Mergers, and the Mergers are expected to be implemented on or about September 30, 2025.
Article content
Further information regarding the Pre-Merger Amendments and Mergers was outlined in the Circular. The Circular is also available on SEDAR+ at www.sedarplus.com.
Article content
Forward-looking statements
Article content
Certain statements in this press release are forward-looking and involve a number of risks and uncertainties, including statements regarding the implementation of the Pre-Merger Amendments and Mergers. Forward-looking statements ('FLS') are provided for the purpose of assisting the reader in understanding the Trust's financial performance, financial position and cash flows as at and for the periods ended on certain dates and to present information about management's current expectations and plans relating to the future. Readers are cautioned such statements may not be appropriate for other purposes. FLS involve known and unknown risks and uncertainties, which may be general or specific and which give risk to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, assumptions may not be correct and objectives, strategic goals and priorities may not be achieved. FLS are statements that are predictive in nature, depend upon or refer to future events or conditions, or that include words such as 'may,' 'will,' 'should,' 'could,' 'expect,' 'anticipate,' 'intend,' 'plan,' 'believe,' or 'estimate,' or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. FLS are not guarantees of future performance and are by their nature based on numerous assumptions.
Article content
Information contained in FLS is based upon certain material assumptions applied in drawing a conclusion or making a forecast or projection, including management's perception of historical trends, current conditions and expected future developments, as well as other considerations believed to be appropriate in the circumstances. Although the FLS contained herein are based upon what Starlight Capital believes to be reasonable assumptions, Starlight Capital cannot be sure that actual results will be consistent with these FLS. The reader is cautioned to consider the FLS carefully and not to place undue reliance on FLS.
Article content
The forward-looking statements relate only to events or information as of the date on which the statements are made in this press release. Unless required by applicable law, it is not undertaken and specifically disclaimed that there is any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
Article content
About Starlight Private Global Real Assets Trust
Article content
The Starlight Private Global Real Assets Trust 's investment objective is to provide unitholders with stable cash distributions and long-term capital appreciation through exposure to institutional quality real assets in the global real estate and global infrastructure sectors.
Article content
Starlight Capital is an independent Canadian asset management firm with over $1 billion in assets under management. We manage Global and North American diversified private and public equity investments across traditional and alternative asset classes, including real estate, infrastructure and private equity. Our goal is to deliver superior risk-adjusted, total returns to investors through a disciplined investment approach: Focused Business Investing. Starlight Capital is a wholly-owned subsidiary of Starlight Investments. Starlight Investments is a leading global real estate investment and asset management firm with over 375 employees and $30B in AUM. A privately held owner, developer and asset manager of over 70,000 multi-residential suites and over 7 million square feet of commercial property space. Learn more at www.starlightcapital.com and connect with us on LinkedIn at https://www.linkedin.com/company/starlightcapital/.
Article content
Article content
Article content
Article content
Contacts
Article content
Dennis Mitchell
Article content
Article content
Chief Executive Officer &
Article content
Article content
Article content
1-416-855-2642
Article content
Article content
dmitchell@starlightcapital.com
Article content
Graeme Llewellyn
Article content
Article content
Chief Financial Officer &
Article content
Article content
Article content
Article content
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CTV News
3 minutes ago
- CTV News
‘This is the nuclear option in labour relations': expert on Air Canada dispute
The union of Air Canada's flight attendants says they are locked out as of this weekend after issuing a 72-hour strike notice. A strike would impact 120,000 passengers daily, the company estimates. John Gradek, an aviation expert from McGill University, joined Nicole Lampa on CTV Morning Live Edmonton. This transcript has been edited for length and clarity. Nicole Lampa: How did the union and Air Canada get to this point in negotiations? John Gradek: There's a lot of conjecture about who is positioning what and how much negotiation did, in fact, take place. These negotiations have been going on in various ways, shapes or forms for the last eight months. On Monday, Air Canada basically said to the union, 'We're not getting anywhere. The gap's too big. Let's agree to go to binding arbitration.' Which, to me, is the nuclear option in labour relations. It's not labour relations; it's an imposed settlement by a third party and Air Canada walked away. So the union was faced with a situation where as of midnight ET last night, they said, 'That's it. We're calling our strike vote to issue a 72-hour notice.' A half hour later, Air Canada locks them up. To me, it's been a classic failure in labour relations and negotiations. I think Air Canada is counting on the government legislating them back to work and that's not going to happen. I think that's still a question about how Air Canada strategy is evolving and what is necessarily going to happen here. Nicole: It was once the standard that flight attendants were paid only when the plane was in motion. Why is this a sticking point now? John: It's a change in the work environment. I think there's been a number of organizations that recognized the need to ensure that flight attendants get paid for the work that they do. This is a movement that started in the U.S. about three years ago, where Delta Airlines started to pay flight attendants for work they're doing handling passengers prior to door closing. United Airlines followed suit and now we have Porter Airlines in Canada that does pay flight attendants for some free boarding work that they're doing, so it's not an unknown feature. Air Canada ought to recognize that that's the evolution, that's where the industry is going and that's going to be part of the negotiation. Nicole: We saw Justin Trudeau's Liberal Party forcing striking railway and postal workers back to the job. Will Mark Carney's government follow suit? John: I think that's a good question. There are a number of things that have to be taken into consideration. The Supreme Court of Canada back in 2016 confirmed the right of employees to strike and that it's an unalienable human right to strike, so this is part of the process. They would act in case of a situation where it was a national emergency to get this back, but this is not a national emergency. We have four other carriers in Canada very capable of flying passengers. Yes, the next few days are going to be a little bit hectic because people are booking left, right and centre. But this is one that has to be settled, in my opinion, at the negotiating table. Nicole: What advice do you have for anyone traveling on Air Canada in the next few days? John: If you have an Air Canada ticket and your flight's been cancelled, wait for Air Canada to get a hold of you. They will either text you, email you or get in communication with you. They will offer you a replacement flight. It's your choice to take it or to request a full reimbursement, but wait for Air Canada to call you. Don't jump the gun and call them. You're not going to get an answer on their phone lines. Let them figure out what it is they're going to be able to offer you to replace the flight that's been cancelled.
National Post
3 minutes ago
- National Post
Hurricanes owner Tom Dundon strikes tentative deal to buy Portland Trail Blazers
Article content A group led by Carolina Hurricanes owner Don Dundon has reached a tentative agreement with Paul Allen's estate to buy the Trail Blazers and keep the team in Portland. Article content Dundon confirmed the agreement in a text exchange with The Associated Press on Wednesday. His group includes Portland-based Sheel Tyle, the co-founder of investment firm Collective Global, and Marc Zahr, co-president of Blue Owl Capital. Article content Article content The NBA Board of Governors has to ratify any final purchase agreement. ESPN reported Wednesday that the deal was for $4 billion. Dundon did not reveal the terms of the sale to the AP. Article content CNBC earlier this year valued the Trail Blazers at $3.65 billion. In March, the Boston Celtics sold for $6.1 billion. Article content Dundon, 53, bought a stake in the Hurricanes in 2017 and became the majority owner in 2018. He is chairman and managing partner of the Dallas-based firm Dundon Capital Partners. Article content Allen's estate announced in May that it had begun the process of selling the Trail Blazers. The billionaire co-founder of Microsoft, who died in 2018 at age 65 from complications of non-Hodgkin lymphoma, originally bought the Blazers in 1988 for $70 million. Article content Allen also owned the NFL's Seattle Seahawks and was a co-owner of Major League Soccer's Seattle Sounders. Article content Since his death, Allen's sister, Jody Allen, has served as chair of both the Blazers and Seahawks and is a trustee of the Paul G. Allen Trust. Paul Allen stipulated in his will the eventual sale of his teams, with the proceeds given to philanthropic endeavors. Article content Article content Representatives for the estate did not immediately respond to emails from The Associated Press seeking comment on the agreement. Article content The estate has not announced plans for the sale of the Seahawks or the 25% stake in the Sounders. Article content Jody Allen reportedly rebuffed an offer from Nike co-founder Phil Knight to buy the Trail Blazers for more than $2 billion in 2022. At that time, there were no ongoing discussions about the sale of the teams, she said in a rare statement. Article content The Trail Blazers joined the NBA as an expansion team in 1970 and won their lone NBA championship in 1977. Article content Last season, the Blazers finished 36-46 and missed out on the playoffs for the fourth straight year. Article content A spokesperson for the Carolina Hurricanes said Dundon was 'excited about the opportunity' to buy the Trail Blazers, and added that the move will not affect the NHL team. Article content
Globe and Mail
3 minutes ago
- Globe and Mail
Minnesota Twins owners halt team sale and opt to keep the club in the family
The Minnesota Twins are no longer for sale, executive chair Joe Pohlad announced Wednesday on behalf of his family. After exploring a variety of options since publicizing the sale 10 months ago, the Pohlad family will remain the principal owner of the club and add new investors instead. Carl Pohlad, a banking magnate and the late grandfather of Joe Pohlad, purchased the Twins in 1984 for US$44-million. 'For more than four decades, our family has had the privilege of owning the Minnesota Twins. This franchise has become part of our family story, as it has for our employees, our players, this community, and Twins fans everywhere,' Joe Pohlad said in his announcement. 'Over the past several months, we explored a wide range of potential investment and ownership opportunities. Our focus throughout has been on what's best for the long-term future of the Twins. We have been fully open to all possibilities.' Pohlad said the family was in the process of adding two 'significant' limited partnership groups to bring in fresh ideas, bolster critical partnerships and shape the long-term vision of the franchise that relocated to Minnesota in 1961 after originating as the Washington Senators. Details about the new investors were being kept private until Major League Baseball approval of the transactions, Pohlad said. Financial analysis earlier this year by Forbes valued the franchise at US$1.5-billion, ranked 23rd in MLB. Sportico (US$1.7-billion) and CNBC (US$1.65-billion) pegged them higher. The Pohlads hired Allen & Company, a New York-based investment bank, to direct the sale and keep inquiries confidential. Multiple published reports identified Justin Ishbia, a part owner of the NBA's Phoenix Suns, as the front-runner. But the Chicago White Sox announced last month that Ishbia was becoming a limited partner in a deal that provides a runway for him to become controlling owner. MLB commissioner Rob Manfred acknowledged during the All-Star break, without naming him directly, that Ishbia's decision sidetracked the process. 'There will be a transaction,' Manfred said. 'You just need to be patient while they rework.' The Twins are on track for their lowest attendance total in 16 seasons at Target Field, and an ownership-mandated payroll reduction last year in light of decreased regional television revenue, among other factors, has contributed to a dissatisfied customer base. The Twins traded 10 players off their roster leading up to the July 31 deadline, furthering the frustration. Word that the Pohlads are staying put certainly won't help the morale of Minnesota baseball fans, who've been waiting for another World Series title since 1991 and saw the investment in the roster plunge right after an American League Central title in 2023. The Twins won a playoff series then, too, their first in 21 years. 'We see and hear the passion from our partners, the community, and Twins fans. That passion inspires us,' Pohlad said. 'This ownership group is committed to building a winning team and culture for this region, one that Twins fans are proud to cheer for.' The Twins began the season ranked 17th in player payroll at a little more than US$142.8-million, but their trading spree last month lopped about US$26-million from that figure. Shortstop Carlos Correa was sent to the Houston Astros in a pure salary dump that reunited the three-time All-Star with his original team, which inherited US$70-million of the more than US$103-million that remained on his contract. Pohlad, in an interview with the Minnesota Star Tribune published immediately after the announcement, said he understands the bad feelings from the fans and looks forward to helping rebuild the brand and the roster. He said one of the investment groups is made up of Minnesotans and the other is a family based on the East Coast. Pohlad also said the teardown of the roster was not driven by a request from ownership to further cut costs. 'It certainly set us up for more flexibility, but they were primarily baseball decisions,' Pohlad told the Star Tribune.
