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Hostplus and Club Super enter merger talks
Hospitality industry funds Hostplus and Club Super have announced they are in merger discussions.
The two funds issued a formal announcement declaring the discussion and that they had entered into a memorandum of understanding to formally pursue discussions and undertake a comprehensive due diligence process.
It said it was anticipated this would lead to the two funds’ trustees signing a successor fund transfer deed approving the merger of Hostplus and Club Super.
The announcement said that as industry funds with a common member profit heritage and history, and focus on serving the hospitality, tourism, recreation and sporting sectors, both funds believed there is a strong alignment between the organisations which when combined are expected to deliver greater benefits and outcomes for their members.
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