CFSGAM joins forces with CRI Australia
ColonialFirstStateGlobal Asset Management (CFSGAM) has partnered with property development and services company CRI Australia to launch a series of unlisted closed-end diversified property development funds.
The co-branded funds will aim to meet the increasing demand of institutional investors seeking enhanced returns from the Australian property market.
CFSGAM will bring its fund management capabilities to the partnership for designing and managing the funds, while CRI will source and manage attractive property development opportunities.
CFSGAM head of unlisted property Tim Stringer said each party’s mix of skills and experience complemented the other’s.
“CRI Australia’s depth of experience and commitment to thorough risk management practices positions the Colonial First State Global Asset Management/CRI Australia joint venture ideally to offer investors an opportunity to invest in property development opportunities, backed by a team with over two decades of experience and results,” he said.
“We look forward to furthering our investment offering through this strategic joint venture with CRI by tailoring investment products to meet the needs of our investors.”
The first fund to come out of the joint venture will be launched shortly, with an equity raising of between $50 million and $100 million.
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
