The management of the Australian Unity Funds Management Limited is understood to have made approaches to some real estate groups about forming a partnership to fend off its suitor NorthWest Healthcare Properties Real Estate Investment Trust (TSX:NWH.UN), according to sources. NorthWest made a $2.5 billion bid for the wholesale trust this year equating to $2.35 per unit, but was rebuffed by the fund's management. Working with Australian Unity has been adviser Greenhill and groups approached are said to include those such as GPT, Dexus and Charter Hall.

Sources say that Australian Unity has been considering a move to find a major investor to make a placement in the trust of about 5% to 10% at a premium to its current valuation. However, some question at what price parties would be prepared to commit funds to the Australian Unity entity. The Goldman Sachs-advised NorthWest has taken a somewhat hostile approach in its efforts to gain control of the fund, securing a stake of about 16% after entering into option agreements with the Scanlan family-controlled Hume Partners.