Real Estate Capital Partners (ReCap) has boosted its stake in the MacarthurCook Industrial Fund (MIF) from 11.8 per cent to 19.8 per cent.
The increased stake in the fund was part of a swap deal with Orchard Funds Management.
The announcement followed the firm's bid to replace MacarthurCook as the responsible entity of the MIF, a bid that was voted down by investors last week.
ReCap had made a bid to control the MIF on the basis that the fund was not properly managed by MacarthurCook.
"This deal shows our continued commitment to ensuring the fund is managed properly. We will keep the pressure on MacarthurCook to articulate and implement strategies to improve its performance," ReCap chief executive Andrew Saunders said.
