AustralianSuper, the A$130 bn (€82 bn) Australian superannuation fund, has expanded its mandate with TH Real Estate, appointing the investment manager to advise on opportunities in the office and retail sector in Europe.
First appointed in 2013, TH Real Estate has assisted AustralianSuper in its aims to grow its UK property investment portfolio. The team advised on the acquisition of a 50% interest in thecentre:mk in Milton Keynes and a 67% stake in King’s Cross, London.
AustralianSuper, Australia’s largest superannuation fund, currently manages a A$10 bn property portfolio. Its appetite for European office and retail property is focused on the prime and super prime sector, as part of a global core strategy.
Jack McGougan, head of Property AustralianSuper, commented: 'Working with TH Real Estate has delivered some great outcomes for our members. AustralianSuper looks forward to expanding the mandate into the broader European market.'
Myles White, head of retail at TH Real Estate, added: 'With retail becoming more polarised and sophisticated; and the office occupier market booming in several European markets, now is the perfect time to expand the successful UK strategy into mainland Europe.'
