Barings will acquire Sydney-based real estate investment boutique Altis Property Partners, adding more than $4 billion in assets under management to its global private markets business.
Terms of the deal, expected to close on Sept. 1, weren’t revealed.
Altis has real estate equity assets under management of A$6.1 billion ($4.3 billion), focused on value-add strategies that will complement Barings’ real estate debt business in Australia, a Barings news release said Thursday.
The addition of Altis will lift Barings’ private assets AUM globally to just over $134 billion, according to a Barings spokeswoman. Barings’ alternatives business includes private credit, real estate debt and equity, and private equity. As of March 31, the firm’s global real estate business had AUM of $48.9 billion.
Mike Freno, Barings’ chairman and CEO, in the news release said the Altis acquisition will strengthen the firm’s investment capabilities in Australia and further expand its footprint in an Asia-Pacific region that accounts for roughly one-third of Barings’ third-party AUM.
Altis’ executive directors and staff will remain with the firm following the acquisition, according to the news release. Alastair Wright, executive director of Altis, couldn’t immediately be reached for comment.
Charlotte, N.C.-based Barings oversaw more than $349 billion in AUM globally as of June 30.
Sign up and get the best of News delivered straight to your email inbox, free of charge. Choose your news – we will deliver.
Get access to the news, research and analysis of events affecting the retirement and institutional money management businesses from a worldwide network of reporters and editors.
Our Mission
To consistently deliver news, research and analysis to the executives who manage the flow of funds in the institutional investment market.
Main Office
685 Third Avenue
Tenth Floor
New York, NY 10017-4036

Chicago Office
130 E. Randolph St.
Suite 3200
Chicago, IL 60601

Contact Us
Careers at Crain
About Pensions & Investments
 

source