Lands of Plenty
Sydney Morning Herald
July 4, 2011
Overarching principle ... Equitrust founder Mark McIvor.
The founder of the Gold Coast financial concern Equititrust, Mark McIvor, really does appear to be living up to the latest Charles Darwin quote he is promoting as part of his new venture. ''Logic will take you from A to B. Imagination will take you everywhere.''
Despite Equititrust's flagship mortgage fund hitting choppy waters recently by having to write down the value of its units by 22 per cent, McIvor is a lot more bullish about his new company, Landsolve Partners Limited.
''Our hallmark skill is providing income solutions. Our objective is to enable investors to 'live life to the fullest' through higher yield,'' McIvor said in the offer document, which is trying to raise up to $200 million for the Landsolve Capital Solutions Fund.
''The global financial crisis has proven the investment market carries uncertainty. It is imperative your capital achieves an optimum return.''
The Landsolve fund, aside from making loans to developers, might also ''make loans or invest in other management investment schemes'' that are run by Landsolve or its related parties (aka Equititrust).
One wonders if this could include the struggling Equititrust Income Fund, which is required to repay a $25 million facility to the National Australia Bank next month.
Landsolve has also inherited Equititrust's Roman voussoir arch logo. ''The Roman voussoir arch was a breakthrough in structural stability. Combined with pozzolan concrete, it was one of the sturdiest methods of construction the world had ever seen,'' the Equititrust website says.