Aliro executive chairman David Southon (Image: Aliro)
Canadians investing in Australia lead today’s review of real estate headlines from around Asia Pacific, as the Public Sector Pension Investment Board signs up for an industrial venture. Also making the list today is Korea’s NPS choosing value-add fund managers and barbarians at the gate of one of the world’s largest data centre players.
Canada’s PSP Commits Up to $522M for Aliro Australian Industrial Fund
Canada’s Public Sector Pension Investment Board will pour up to A$800 million ($522 million) into a prime industrial real estate fund run by the Aliro Group, giving the local firm firepower to grow in the increasingly competitive market for warehouses and distribution hubs.
PSP Investments will allocate its A$800 million into the Aliro Group Industrial Vehicle (AGIV), which is the company’s flagship open-ended industrial fund. The fund targets “core plus” returns by investing in and developing top quality assets and its 12-strong portfolio has an end value of A$2.2 billion. Read more>>
Korea’s NPS Shortlists Fund Managers for Value-Add Real Estate Mandate
The National Pension Service (NPS), South Korea’s state-run pension fund and the country’s largest institutional investor, has shortlisted four asset managers for a coveted mandate to oversee value-add real estate funds.
The Korean pension giant has named Pebblestone Asset Management, Pacific Investment Management, Hanwha Asset Management and Hyundai Investments as the final contenders, people familiar with the matter said on Monday. Read more>>
Elliott Builds Up Stake in Equinix as Data Centre Player’s Stock Slides
Elliott Investment Management has built up its stake in Equinix Inc. and is pushing the data center operator to take steps to boost its share price, people with knowledge of the matter said.
The activist firm now has a large investment in Equinix that makes it one of the Redwood City, California-based company’s top 10 investors, the people said, asking not to be identified discussing private information. Read more>>
India’s Adani Quietly Builds $1.5B Real Estate Business
Billionaire Gautam Adani’s ports, power and cement businesses have made him Asia’s second richest person. Now, he’s quietly building a multi-billion dollar real estate empire that’s reshaping one of the world’s most expensive property markets.
Since 2010, his real estate arm has expanded its footprint across major tech and finance hubs in India, from a country club and township in Ahmedabad to luxury towers in Mumbai. Adani Realty is now one of the country’s largest property players and is worth about $1.5 billion, according to the Bloomberg Billionaires Index, which has valued the business for the first time. Read more>>
Chinese Investor JY Group Pegged to Buy Half-Stake in Sydney Mall for $106M
Chinese investment manager JY Group is said to be in the box seat to pick up a half stake in the Bankstown Central shopping centre in Sydney’s western suburbs for more than A$300 million ($196 million).
The transaction is being struck at an investment yield of below 6 percent, after the asset was put on the block by Middle Eastern investor Abu Dhabi Investment Council and Challenger Life, which are advised by Elanor Investors Group. Read more>>
Hopu Boss Fang Fenglei Sells Central Park Condo
Mainland Chinese financier Fang Fenglei, who leads private equity firm Hopu Investment Management, has sold his home in Vornado’s Central Park South tower in Manhattan, according to the latest Olshan Luxury Market Report.
The former Goldman Sachs executive and his wife, Suning, have found a taker for their 2,400-square-foot unit at the blockbuster Billionaires Row project after buying the property in 2013 for $13.2 million. Read more>>
Hong Kong’s Emperor Group in Talks with Creditors for Loan Extensions
Hong Kong’s property slump is weighing on a range of local developers, with a well-known but smaller-scale builder the latest to seek relief from creditors.
Emperor International Holdings Ltd. has sent a revised debt restructuring proposal to some lenders in recent days, seeking to extend the maturity of its bank borrowings to Dec. 31, 2027, according to people familiar with the matter. The company earlier reported that it had HK$16.6 billion ($2.1 billion) in overdue bank loans, breaching certain terms on the facility agreements. Read more>>
Singapore Appoints JP Morgan, Fullerton and Avanda to Improve SGX Liquidity
The Monetary Authority of Singapore said on Monday it has appointed three companies, including JP Morgan Asset Management, to jumpstart a program worth 5 billion Singapore dollars ($3.9 billion) to encourage more investment in local stocks.
The financial regulator said the other two are Fullerton Fund Management and Avanda Investment Management. They will manage a starting sum of S$1.1 billion ($858 million) aimed at “improving liquidity and broadening participation in Singapore equities” as part of the national program announced in February. Read more>>
Tune in again soon for more real estate news and be sure to follow @Mingtiandi on X, or bookmark Mingtiandi’s LinkedIn page for headlines as they happen.
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