Barings to acquire A$6bn private equity real estate firm Altis

Barings to acquire A$6bn private equity real estate firm Altis

Global investment manager Barings has saigned a share sale agreement to acquire 100% of Altis Property Partners (Altis), an Australian private equity real estate investment company.

Founded in 2008, Altis has extensive experience and expertise in industrial, office, retail warehouse, residential and other specialist real estate sectors across the risk spectrum including core, value-add and development.

Since inception Altis has acquired and developed over A$8bn of real estate with current assets under management of A$6.079bn.

The parties expect to close the transaction on September 1, 2022. Altis’ executive directors and staff will remain with the firm following the acquisition.

Mike Freno, Barings Chairman and CEO said: “We’re excited to welcome Altis to our real estate platform as we strengthen our local investment capabilities in Australia and continue to expand our footprint in the region. Asia Pacific makes up approximately a third of Barings’ 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 U.S. 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 said: “We are pleased to join Barings, a company with a similar team-based approach, culture and investment philosophy. Altis has built a strong investment track record and solid relationships with our long-term clients. 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.”