M&G Buy Future Fund Position with Dexus
Dexus announced this week that it has secured global investment manager M&G Real Estate as a new investor on its funds management platform, purchasing Future Fund’s 50% interest in the Dexus Industrial Partnership.
M&G Real Estate has £31.7 billion of assets under management and nine offices across Europe and Asia.
The Dexus Industrial Partnership was established in June 2014 and seeded with a prime industrial development opportunity in Quarrywest, Greystanes.
Since its establishment, Dexus has delivered a return in excess of the Partnership’s target.
Executive General Manager, Funds Management for Dexus, Deborah Coakley said: “We are delighted to welcome M&G Real Estate onto our funds management platform and look forward to facilitating their industrial property growth mandate, while continuing the Partnership’s strong performance since inception.”
The Partnership has benefited from Dexus’s integrated model of investment and development management, which has enabled it to grow through acquisition and development.
Dexus was assisted by JLL in the introduction of M&G Real Estate.