Dutch pension fund PGGM to invest in EG Australia’s real estate fund

Sydney Opera House, Sydney, Australia. Photo by Frans on Unsplash

Dutch pension fund PGGM has committed to invest in Australian realty fund managed by EG Funds Management, in a bid to strengthen its presence in the region.

According to a statement EG issued on Wednesday, PGGM has joined four Australian investors to give EG Australian Core Enhanced (ACE) Fund the ability to invest over $1.25 billion.

This marks the second investment by PGGM in EG ACE over the past months. Last November, PGGM made headlines when it entered into an A$800m partnership with Charter Hall to target industrial and logistics assets.

EG ACE is an open-ended, diversified real estate fund that has already acquired five assets totalling $234 million.

“The initial investment strategy has been to target light industrial and logistics assets in Sydney and Brisbane, with a counter cyclical investment in the Perth office market,” said ACE fund manager Michael Noblet. “Moving forward, we will focus on inner urban industrial assets, resilient well-located office buildings and non-discretionary retail assets”.

Meanwhile, EG executive director Roger Parker added: “We have fielded significant interest in the strategy from many domestic and offshore investors”.

Founded in 2000, EG is currently scouting for additional properties for acquisition as it carves out its growth path through the inorganic growth route. It manages $4.3 billion under management on behalf of super funds and private wealth clients.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.