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August 11, 2022

Barings to buy Australian private equity real estate company Altis

Investment manager Barings has entered into a share sale deal to buy 100% of Altis Property Partners (Altis) for an undisclosed amount.

Based in Australia, Altis is a private equity real estate investment company with A$6.079bn ($4.30bn) of assets under management (AUM).  

The deal is scheduled to be completed by 1 September, 2022.

Following the completion of the deal, Barings will strengthen its workforce by 44 new employees who are experienced in real estate equity.

Barings chairman and CEO Mike Freno said: “We’re excited to welcome Altis to our real estate platform as we strengthen our local investment capabilities in Australia and continue to expand our footprint in the region.

“Asia Pacific makes up approximately a third of Barings’ third-party AUM and is expected to be a key driver of growth for us.

“Barings has successfully led private credit and real estate debt investments in Australia and we’re confident Altis will help us broaden our investment capabilities in the region.”

Currently, Barings employs more than 200 investment agents in 16 locations across nine countries. The company also has a history of handling real estate investments in the US and Europe.

With a total of $48.9bn AUM, Barings’ global real estate unit offers a range of solutions for the real estate debt and equity sectors.

Late last month, Barings announced a deal to buy eight prime logistic assets from NFU Mutual for £234m, expanding its pan-European approach to purchase core real estate.

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