Former PM joins property finance firm

by Miklos Bolza14 Dec 2017
Former Prime Minister Julia Gillard has been unveiled as the new independent director of property finance and investment house CVS Lane Capital Partners.

The appointment was revealed in an interview with The Australian Financial Review, where Gillard spoke of her first foray outside of the political scene.

“I’m intrigued by the work that it does, property financing,” she told the AFR.

CVS Lane provides bespoke capital solutions including first mortgage facilities, mezzanine debt, and preferred equity finance. The firm has currently raised more than $600m in capital and has a portfolio under management of almost $500m.

The company was a “microcosm” of understanding both trends in the Australian and global economy, Gillard said.

“I thought I could value-add, not by being a property finance expert – I’m never going to match it with these guys on that depth of knowledge – but by bringing to the table that broader perspective and broader expertise.”

Gillard was appointed as CVS Lane’s first independent director five months ago, joining a board of founders including financial heavyweight Joshua Liberman.

Liberman and Gillard knew each other prior to her appointment, with the AFR reporting that it took 18 months to get her on board.

Currently, Gillard is also chair of the board of the Global Partnership for Education and chair of mental health charity beyondblue.

CVS Lane managing director Lee Centra told the AFR that the board was expanding at the beginning of the company’s next stage of growth.

“We needed to bring on someone who actually isn’t from the property finance industry, to bring a different perspective to the strategic questions we need to consider,” he said.

“If you have the choice of working with Julia Gillard, former prime minister of Australia, why wouldn't you take that opportunity?”

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