Sirius completes asset management deal with Principle Capital Partners

AIM-listed property company Dawnay Day Sirius has announced that Principle Capital Partners has completed the acquisition of 48% of its asset management company, Dawnay Day Sirius Real Estate Asset Management. The asset manager will now be renamed Principle Capital Sirius Real Estate Asset Management (PCSREAM).

Principle Capital Partners is also acquiring a 48% interest in Marba Holland, the vehicle which was established to receive performance fees payable in respect of Marba Holland's property portfolio.

Sirius announced the appointment of Brian Alan Myerson as a non-executive director with immediate effect. Myerson is CEO of Principle Capital, which he co-founded in November 2004 and has been a director of several listed UK companies, including Liberty, Greycoat and Marylebone Warwick Balfour Group, where he was chairman.

The board of Dawnay Day Sirius has also recommended shareholders vote in favour of a resolution to change the name of the company to Sirius Real Estate at the General Meeting of the company to be held on 10 October 2008.

Sirius is a property investment company focused on business parks, offices and industrial complexes across Germany.