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.
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