With its new merger, the Melbourne-based infrastructure firm hopes to grow and globalize property fund manager IFM’s unlisted platform.
The Singaporean firm, which is buying Australian credit manager Wingate, aims to triple its FUM in the country over the next few years.
The pension fund could allocate $1.45bn to real estate funds over the coming decade.
The Singaporean sovereign wealth fund and German reinsurer have separately invested billions in the asset class in recent months.
The manager reportedly outbid KKR and BGO for the mixed-use Garden Terrace Kioicho and its 1.2 million square feet of fully occupied offices.
Lower debt costs and a growing appetite for operationally intensive alternatives will drive merger activity.
Robert Rackind sees an opportunity to take a real estate investment manager public amid pressures in the 'squeezed middle' segment.
The firm defines RE deals as any transaction where private equity is exchanged in the capital stack and where the operator maintains control over the asset.
The milestone comes four years after the New York-based infrastructure giant formally launched a dedicated platform in the asset class.
With a focus on transparency and liquidity, Fund VI will exclude Hong Kong and China, and will further limit exposure to the office sector.