Shareholders of beleaguered asset manager Blue Sky Alternative Investments approved the conversion of Oaktree Capital Management's loan to equity, completing a rescue deal that outgoing chairman John Kain said would represent "strengthened foundations".
Blue Sky also named Andrew Day, the former boss of Hastings Funds Management, as chairman to succeed Mr Kain. The Oaktree conversion was sealed with more than 93 per cent of votes cast in favour at an annual meeting in Brisbane on Monday.
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Vesna Poljak was The Australian Financial Review’s companies editor.
