Barings to boost real estate AUM to $53bn with Australian Altis buyout

Barings will acquire Sydney-based real estate investment boutique Altis Property Partners, adding more than $4bn in assets under management to its global private markets business.

Altis has real estate equity assets under management of $4.3bn, focused on value-add strategies that will complement Barings’ real estate debt business in Australia, a Barings news release said Thursday.

The addition of Altis will lift Barings’ private assets AUM globally to just over $134bn, according to a Barings spokeswoman. Barings’ alternatives business includes private credit, real estate debt and equity, and private equity. As of March 31, the firm’s global real estate business had AUM of $48.9bn.

Mike Freno, Barings’ chairman and CEO, in the news release said the Altis acquisition will strengthen the firm’s investment capabilities in Australia and further expand its footprint in an Asia-Pacific region that accounts for roughly one-third of Barings’ third-party AUM.

Altis’ executive directors and staff will remain with the firm following the acquisition, according to the news release. Alastair Wright, executive director of Altis, couldn’t immediately be reached for comment.

Charlotte, N.C.-based Barings oversaw more than $349bn in AUM globally as of June 30.

Source: Pensions & Investments