JPMorgan Asset Management has acquired the Asia-Pacific real estate business of Aviva Investors operating in Australia, Japan and Singapore.
As part of the deal, JPMorgan has also acquired the investment management of existing Asia Pacific real estate funds and portfolios spanning core to value-added investments.
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The acquisition will add Aviva’s real estate team of about 50 people in the region to JPMorgan Asset Management’s 400 member real assets team.
JPMorgan said that Aviva’s multimanager property strategies in Asia Pacific were not affected by the sale.
The acquisition also adds to JPMorgan’s real estate presence in India and Greater China.
Joe Azelby, head of global real assets at JPMorgan Asset Management, said: "With this acquisition, we have expanded our real estate investment capabilities, across the full risk spectrum from core to opportunistic strategies, to help our clients increase their allocations to dynamic growth markets in Asia Pacific."
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By GlobalDataJPMorgan Asset Management, which has been investing in Asia property since 2006, manages $82bn in property, infrastructure and maritime assets globally.
