Centuria buys 63% stake in property fund manager


Centuria Capital Group has announced the acquisition of 63.06 per cent stake in healthcare property fund manager, Heathley Limited, for $24.4 million which will see the creation of a jointly-owned specialist healthcare funds management vehicle Centuria Heathley.
The acquisition, which was carried out by the firm’s wholly-owned subsidiary Centuria Platform Investments, would bring the group’s assets under management (AUM) to $6.2 billion.
The move came after an earlier announcement by Centuria in which the company said it was to enter the affordable housing market.
Centuria Heathley will leverage Centuria’s capabilities in house real estate management and combine them with Heathley’s healthcare market experience in order to form deeper relationships with healthcare partners.
Additionally, it is believed the new venture would have capacity to expand to around of one billion dollars in AUM in the near term with the ability to increase its asset footprint and unlock new retail and wholesale mandates within the sector.
Heathley is a specialised healthcare property fund manager with $620 million of AUM platform of unlisted funds which include medical centres, day hospitals and tertiary aged care.
Recommended for you
The alternative investment manager has signalled its intentions to repackage an existing fund into a second private equity vehicle, targeting both listed and unlisted opportunities.
The acquisition of Mason Stevens by Adamantem Capital has reached completion, as the wealth platform looks to increase investment into its services for Australian wealth practices.
Platinum Asset Management and VanEck have both announced name changes to multiple of their ETFs to clarify their complexity.
Active ETFs are gaining traction in Asia-Pacific as wealth managers seek to blend the low-cost fees of passive with active management.