News

NPS and Allianz agree to build $2.3bn real estate fund

The National Pension Service of Korea (NPS) and Allianz have agreed a US$2.3 billion deal to build a diversified core portfolio of high-quality properties in the Asia Pacific region. The Allianz Real Estate Asia-Pacific Core I (AREAP Core I) closed-end fund will be domiciled in Singapore. NPS and Allianz will be 50-50 investors with Allianz Real Estate serving as the investment manager and general partner. “The AREAP Core I strategy is to align with secular macro trends and take advantage of individual country and sector cycles to build a diversified portfolio of income-producing assets,” Allianz Real Estate said in a statement on June 30, 2020. “The venture will focus on Japan, Australia, Singapore, Hong Kong and China, seeking core investment opportunities across office, logistics, multi-family and student housing sectors,” it added. Commenting on the deal, Rushabh Desai, chief executive of Allianz Real Estate in Asia Pacific said: “Asia-Pacific continues to offer outsized growth prospects with individual markets operating at varied pace, offering an opportunity to build a diversified portfolio within the region. AREAP Core I will have the scale and reach to provide a high level of deal execution certainty for prime/core transactions.” Earlier this month, Allianz Real Estate and Charter Hall Group struck a deal to jointly acquire a logistics portfolio of four Aldi distribution centres in Australia for A$648 million (US$449.2 million). © 2020 funds global asia

Sponsored Profiles

Sponsored feature: Asset allocators – How do you track your decisions?

Apr 06, 2020

Mark Barry, Head of Asset Allocation at Milestone Group, explores how a simple question can highlight opportunities to automate and streamline your asset allocation investment process.

Sponsored feature: How is DLT changing the global securities services landscape?

Oct 17, 2019

By Jeslyn Tan, global head of product management, securities services, at Deutsche Bank

Sponsored feature: A new base for fund distribution

Oct 16, 2019

To get the most value out of the digitisation of investment fund distribution, a blockchain-based infrastructure is fundamental. By Olivier Portenseigne, Managing Director and Chief Commercial Officer, Fundsquare.

Sponsored profile: Bridging the gap

Mar 11, 2019

Private equity is a core part of the business for Caceis’ Hong Kong office, which looks after clients in China and Europe. David Li, chief executive officer, explains why private equity enjoys strong client demand and how it is being used to fund China’s international infrastructure ambitions.

Executive Interviews

Executive interview: Understanding geographies

Apr 06, 2020

Margaret Harwood-Jones, co-head financing and securities services at Standard Chartered, shares her insights on platform standardisation, opportunities in Asia and regulatory change to encourage...

Executive interview: ‘Bull markets don’t die of old age’

Dec 12, 2019

Having a balanced portfolio in the midst of the longest expansion in history is an investment imperative, Chris Alderson, co-head of global equity and head of international equity at T Rowe Price...

Roundtables

Hong Kong roundtable: A ‘fragile Goldilocks situation’

Apr 06, 2020

With the global economy at a crossroads, our panel of experts share their thoughts on the market conditions, geopolitical volatility and growth opportunities. Chaired by Romil Patel in Hong Kong.

Singapore roundtable: A horizon to hold long-term assets

Dec 12, 2019

Panellists discuss the geopolitical fractures concerning asset owners, Singapore as a hub for fintech start-ups and why it makes sense to raise capital from a Variable Capital Company (VCC). Chaired by Romil Patel in Singapore.