Fund managers and property executives have offered to buy Great Southern Funds Management Ltd and part of the Rural Opportunities Fund, which it runs.
According to The Australian Financial Review, one of the offers has its origins in a management buy-out proposal that was close to being completed before Great Southern went into receivership on May 18.
That offer came from David Bryant, the Canberra-based founder of Rural Funds Management and the Diversified Agribusiness Fund. Great Southern bought both in 2007 and then rebranded them as Great Southern Funds Management and Rural Opportunities Fund respectively.
McGrathNicol has control of the management company and the fund, because of the parent group's problems, but both are still solvent.
"I would still be happy to buy it back through the receivers, but they are compelled to work through an open-bidding process," Mr Bryant said. "Hopefully in new hands it will prosper."
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