The tussle over the $10 billion Australian Prime Property Fund empire run by Lendlease is getting serious with heavyweight investors including Hostplus, TCorp and UniSuper bringing on Jarden and Clayton Utz to help advise them on whether to turf the property giant and bring in Mirvac.
The showdown is a painful echo of the brawl between the $8.6 billion Mirvac and Dexus over a $7 billion office tower fund originally run by AMP Capital three years ago. Ultimately, Mirvac won out in a big blow to Dexus, which, at the time, was helmed by Darren Steinberg.
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