Christie Ou
The investor has announced $1bn of commitments across two direct private real estate funds within the past year.
The Miami-based firm has garnered investments from some of the biggest institutional investors including CalSTRS and Mubadala.
The APG-backed healthcare platform is also in talks with other institutions from Asia and the Middle East as it eyes a $1.5bn final close.
AustralianSuper’s merger of its infrastructure and real estate teams reflects a convergence of the two asset classes that is becoming increasingly uncomfortable for managers.
The investor sees ‘a blurring of investment opportunity classification across the two asset classes,’ says head of mid-risk Jason Peasley.
The investor will shift its focus to equity opportunities in 2024 from real estate debt and public market investments this year.
The investor first began building a core portfolio in Europe and Australia and now looks to expand into non-core strategies.
Changes in investor appetite, tightening budgets and optimizing efficiency were among the big themes discussed at the conference in Seoul this week.
But those deploying capital in the country would still benefit from risk mitigation, members heard at the PERE Network Tokyo Forum 2023.
However, the global CIO of the German asset manager sees recent government reforms as a way for the sector to return to a ‘healthy’ balance.