News

M&G buys Sydney office tower

SydneyBritish fund manager M&G Real Estate Asia has bolstered its Australian property portfolio after buying a stake in a Sydney office tower. The firm spent US$424 million to purchase a stake a 50% share in 200 George Street in Circular Quay. The stake was purchased from AMP Capital. M&G will co-own the building with Mirvac, the Australian firm that developed the property and bought in AMP Capital’s Wholesale Office Fund as a co-investor five years ago. According to Brett Draffen, chief investment officer at Mirvac, the transaction “demonstrates the confidence in Sydney’s central business district” and the demand for “high-quality, modern, well-located assets”. The purchase follows a A$300 million investment made by M&G in December 2020 to increase its stake in a Sydney office tower located at 400 George Street. M&G Real Estate also bought a 20% stake in ESR Australia Development partnership at the end of June. © 2021 funds global asia

Executive Interviews

Executive interview: Nicolas Moreau’s orderly transition

Jul 12, 2021

Nicolas Moreau, CEO of HSBC Asset Management, is moving to Asia as the firm looks to connect more directly with the region’s growth story. ESG is also a key focus – including the ‘just’ carbon...

Executive interview: The man who made Aberdeen

Mar 04, 2021

Martin Gilbert reflects on nearly four decades as Aberdeen CEO, including what he brought to the company, his regrets at not entering into private markets earlier, and passing like ships in the...

Roundtables

Roundtable: How well geared are Japanese assets for a new world?

Jul 12, 2021

As we prepare to emerge from Covid, experts look at overcoming demographic issues through a combination of good tech and corporate governance, improving productivity and meeting an ambitious government carbon emissions reduction target. Chaired by Romil Patel.

Hong Kong roundtable: Increasing China’s prominence as an asset class

Mar 04, 2021

Our line-up of experts in Hong Kong considers the importance of fixed income ETFs, sustainability and the prospects of increasing China in the indices. Chaired by Romil Patel.