Acquisitions see Centuria Capital upgraded to ASX 200
Real estate fund manager, Centuria Capital Group, will be added to the ASX 200 on 16 July.
The firm currently managed $16.8 billion in assets under management across six asset classes including $5.4 billion in listed funds.
John McBain, joint chief executive of Centuria with Jason Huljich, said the firm had undergone ‘transformational growth’ in recent years thanks to corporate and direct acquisitions.
It secured a 50% investment in real estate debt fund provider Bass Capital in April for $24 million which helped it expand its unlisted funds platform and provided the opportunity to offer non-banking finance and real estate secured transactions.
It was also in the process of merging with property investment firm Primewest.
“It’s pleasing to be included in the S&P/ASX 200 Index and we believe this is reflective of our transformational growth in recent years. Our growth strategy has included corporate acquisitions as well as direct real estate acquisitions.”
Shares in Centuria Capital had returned 72% over one year to 8 July, 2021, according to FE Analytics, versus returns by the ASX 200 of 27.5%.
The firm’s Industrial REIT was previously added to the ASX 200 last June and had returned 29.5% over one year to 8 July, 2021.
AUTHOR
Laura Dew
Recommended for you
Some 42 per cent of CEOs say they are actively reinventing their business to stay relevant in the next decade, with consumer services the most common choice for asset and wealth managers.
Former Ophir Asset Management chief executive, George Chirakis, has joined private equity manager Scarcity Partners, while the asset manager has appointed a replacement from Macquarie.
Australian Unity has appointed a fund manager for its Healthcare Property Trust, joining from Centuria Healthcare, as it restructures the product with a series of senior appointments.
Financial advisers nervous about the liquidity of private markets funds for their retail clients are the target of fund managers launching semi-liquid products which offer greater flexibility and redemptions.
