- Altis currently has 44 professions managing a $6 billion portfolio
- North Carolina-based Barings manages a real estate equity and debt portfolio valued at almost $69 billion
- Transaction is expected to close 1 September
Global leading investment manager Barings has announced a share sale agreement to acquire 100% of of Altis Property Partners (Altis), an Australian real estate firm.
Barings has a team of 200 investment professional across nine countries in 16 offices and have an extensive track record of managing real estate investments in Europe and the United States.
Barings has a broad spectrum of solutions across real estate equity and debt, managing a total AUM of US$48.9 billion (AUD$68.85 billion). Their entire global investment portfolio is valued at US$349 billion (AUD$500 billion).
The acquisition will bring a further 44 professionals into Barings, along with AUD$6.079 billion AUM, primarily focused on value-add strategies that complement the debt based team in Australia.
Mike Freno, Barings Chairman and CEO, said the team is excited to welcome Altis to their portfolio as they seek to strengthen their footprint in Australia.
“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.”
Mike Freno, Barings Chairman and CEO
“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,” added Charles Weeks, Barings Head of Europe and APAC Real Estate.
“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.”
Atlis Executive Director Alastair Wright said the team is pleased to join Barings, which has 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,” he 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.”
The transaction is expected to close 1 September.
