AustralianSuper appoints TH Real Estate to an expanded European mandate
AustralianSuper, the $AUS130 billion Australian superannuation fund has expanded its mandate with TH Real Estate, appointing the investment manager to advise on opportunities in the office and retail sector in Europe.
First appointed in 2013, TH Real Estate has successfully assisted AustralianSuper in its aims to grow its U.K. property investment portfolio. The team advised on the acquisition of a 50% interest in thecentre:mk in Milton Keynes and a 67% stake in King’s Cross, London.
AustralianSuper, Australia’s largest superannuation fund, currently manages a AUD$10 billion property portfolio. It’s appetite for European office and retail property is focused on the prime and super prime sector, as part of a global core strategy.
Jack McGougan, Head of Property at AustralianSuper, comments: "Working with TH Real Estate has delivered some great outcomes for our members. AustralianSuper looks forward to expanding the mandate into the broader European market. It underlines our commitment in pursuit of our strategy to acquire core assets in major international cities with trusted and experienced local partners as we look to deliver strong sustainable returns over the long-term."
Myles White, Head of European Retail at TH Real Estate, adds: "AustralianSuper have established themselves as discerning and strategic investors with their acquisition of the 50% stake of thecentre:mk and 67% stake in King’s Cross, London. With retail becoming more polarised and sophisticated; and the office occupier market booming in several European markets, now is the perfect time to expand the successful U.K. strategy into mainland Europe. We are very pleased to extend our longstanding relationship with AustralianSuper. "
With $39 billon invested into retail globally, TH Real Estate is one of the largest global fund managers in the retail sector, managing over 250 retail assets around the world. Flagship products include those focused on prime shopping centres, retail warehouse parks, and outlet malls. Meanwhile, TH Real Estate’s specialist global office team manages $33.5 billion of offices across the world, in a variety of funds and segregated mandates, for clients looking to access the key gateway cities around the world.
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