Dexus has raised a further A$220m (€133m) for its open-ended healthcare real estate fund to help build out its pipeline and to purchase new assets.
The Dexus Healthcare Property Fund’s (DHPF) equity raise was fully subscribed, with existing investors, which accounted for around 65% of the new capital.
DHPF has raised A$1.3bn from 16 institutional investors since its inception in December 2017. Its current investors include Malaysia’s Employees Provident Fund (EPF), which invested A$100m in 2019, and Australia’s Clean Energy Finance Corporation.
Dexus Executive general manager funds management, Deborah Coakley, said: “This successful equity raise confirms that investor interest in high quality healthcare investments remains elevated. We are committed to continuing to unlock healthcare investment opportunities for our investors.”
DHPF Fund Manager, Jemma Maddick, said: “DHPF resonates strongly with investors looking to capitalise on sector tailwinds via a high-quality portfolio, while leveraging the Dexus platform to grow the fund and deliver performance for our investors.”
DHPF has delivered strong returns since its inception, delivering a five-year fund return (post fees) of 13.6% to 31 March 2023, outperforming the comparable MSCI benchmark return of 12.4%, Maddick said.
DHPF recently acquired a 9.95% interest in Celsus, a consortium which manages and maintains the Royal Adelaide Hospital alongside Dexus Community Infrastructure Fund and Dexus Core Infrastructure Fund, further diversifying the fund’s investments to include a public-private partnership.
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