Australia's Challenger Financial Services Group has entered into a joint venture with Protego Real Estate Investors, a London-based real estate manager and investor, to expand its position in Europe. 'The European market represents a significant opportunity for our asset management division to secure high quality assets that offer returns consistent with the investment criteria of both our balance sheet and funds,' said Challenger ceo Mike Tilley.
Australia's Challenger Financial Services Group has entered into a joint venture with Protego Real Estate Investors, a London-based real estate manager and investor, to expand its position in Europe. 'The European market represents a significant opportunity for our asset management division to secure high quality assets that offer returns consistent with the investment criteria of both our balance sheet and funds,' said Challenger ceo Mike Tilley.
Challenger listed in 2006 and has a portfolio of 25 properties, valued at AUD $666 mln (EUR 398 mln). Protego manages property funds with assets totalling £1.4 bn (EUR 2.07 bn). Challenger had also linked up with Japanese property group Kenedix to help it expand there.
