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AusSuper appoints European property investment manager
AustralianSuper has appointed Rockspring Property Investment Managers LLP as its investment manager to look after its direct office and retail property investment strategy in Europe.
It comes as the super fund, which owns around $6 billion of real estate assets most in Australia, entered the UK retail property market in December last year.
The mandate will concentrate on large, landmark office buildings in European markets and retail investments such as regional shopping centres across Europe.
““We have been monitoring European markets closely over the last few years and we are now ready to establish a long-term presence through directly investing in the region,” head of property at AustralianSuper Jack McGougan said.
AustralianSuper entered the UK retail property market by buying a 50 per cent stake ($488.5 million) in a major shopping centre in north west London, thecentre:mk.
This was the fund’s first direct investment in its European property portfolio.
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