Global investment manager Barings has agreed to buy Australia-based real estate firm Altis Property Partners for an undisclosed sum.
Altis, founded in 2008, currently manages A$6.1bn (€4.2bn) assets. The company has expertise in industrial, office, retail warehouse, residential and other specialist real estate sectors across the risk spectrum including core, value-add and development.
The acquisition complements the Barings real estate debt team in Australia and will help the investment manager’s plan to expand into other markets such as Japan and Korea over time.
Mike Freno, Barings chairman and CEO said: “Asia Pacific makes up approximately a third of Barings’s third-party AUM and is expected to be a key driver of growth for us.
“Barings has successfully led private credit and real estate debt investments in Australia and we’re confident Altis will help us broaden our investment capabilities in the region.”
Charles Weeks, Barings head of Europe and APAC Real Estate, said: “Barings has a well-established real estate platform across the US and Europe with expertise in core and value-add investments based on our research-driven and local on-the-ground presence.
“This acquisition will help further build out our real estate platform in Asia Pacific, with a focus on Australia before expanding into other markets such as Japan and Korea over time.”
Alastair Wright, executive director of Altis Property Partners, said: “We will continue to execute on our existing strategies, delivering outstanding results for these clients, and we look forward to offering our investment solutions to a broader global client base.”
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