Centuria acquires specialist fund manager Arrow
Real estate fund manager Centuria Capital has acquired Arrow Funds Management, a specialist agriculture fund manager.
This will give Centuria the management rights to the unlisted agricultural real estate fund, Arrow Primary Infrastructure Fund. Led by Arrow chief executive, Andrew Ashbolt, Arrow is the responsible entity for the fund and its stapled operating fund Arrow Operations Trust.
The existing Arrow management team will all transition across to Centuria and Ashbolt, will assume a new position on Centuria’s APIF investment committee, assuring seamless service delivery to clients.
APIF comprises a portfolio of 22 properties worth $444million with a 12.7-year WALE as at 30 June 2025. The assets are leased to leading Australian primary production tenants, located throughout New South Wales, Victoria, South Australia and the Northern Territory and are predominantly leased on annual CPI-linked rental escalations.
The Fund’s assets include poultry farms, a pork fattening facility, almond and macadamia orchards, mango orchards, dried fruit vineyards and an organic glasshouse. Centuria’s existing agriculture division spans a range of commodities and geographies and there is a clear opportunity to support APIF’s further growth via Centuria’s investor network.
John McBain, Centuria joint CEO, said: “This acquisition adds further scale and operational expertise to Centuria’s agriculture division. Centuria’s growth in agricultural real estate has been part of a deliberate strategy to diversify into high conviction alternative real estate sectors, which we commenced in the post-COVID period and have subsequently scaled beyond $1 billion of AUM.
“Centuria has an established record for successfully integrating complementary funds management businesses and we look forward to offering APIF’s private clients the same high level of service they have enjoyed in the past. Centuria has a mature private client investor base, which has supported its funds management platform for more than 30 years and we are experienced in understanding and responding to the specific needs of private investors.”
Jason Huljich, Centuria joint CEO, added: “We look forward to meeting the Arrow investors in person and gaining a better insight into their investment goals. We also anticipate being able to offer carefully selected agricultural investment opportunities to enhance the Arrow portfolio by applying the proven disciplined methodology that has guided Arrow’s achievements over the years.
The acquisition will be funded using existing cash and undrawn debt.
AUTHOR
Laura Dew
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