Australian superannuation fund Aware Super is investing £5.25 billion in the UK and Europe, as it opens its first international office in London.
The investment is part of a £29.5 billion package of UK projects from the world’s leading investors announced at today’s (27 Nov) Global Investment Summit in Hampton Court, London.
Aware Super revealed in the spring that it was investing $900 million in the global build-to-rent sector with a 22% stake in developer Get Living, as part of its international expansion strategy. This week, it opened its London office.
It already has A$17 billion (£8.84 billion) invested in the UK and Europe.
Aware Super commitment to the UK
Aware Super Chief Executive Officer Deanne Stewart says, “We are thrilled to announce our commitment to the UK, one of the world’s most important and vibrant capital markets, with the opening of our first international office.
“The benefits arising from the Australia – UK Free Trade Agreement, the ease of doing business in the UK, closely aligned culture, proximity to Europe and Northern America, and warm support from both the Department for Business & Trade and the City of London were also compelling factors in our decision to invest here.”
Business and Trade Secretary Kemi Badenoch says, “This £5 billion from Aware Super is a huge boost for UK infrastructure, property and our thriving science and tech sectors.
“Investors like Aware Super are taking advantage of trade deals like the recent Australia Free Trade Agreement and our work breaking down trade barriers to bring new capital into the country.
Most innovative place in the world to invest
“Our Global Investment Summit will be further proof of how the UK is fast becoming the most exciting and innovative place in the world to invest.”
Aware Super Deputy Chief Investment Officer and Head of International Damien Webb who is running the 15-strong London office, says, “Due to our rapid growth trajectory, we believe the UK is a key platform from which we can further fuel our scale ambitions and diversify our portfolio through access to dynamic investment opportunities in new private markets. The ability to access the UK’s deep investment talent pool will also further furnish our investment team’s capabilities.”
Speaking of the spring’s BTR investment, Aware Super Senior Portfolio Manager — Property Alek Misev, says, “As Australia’s leading investor in the Build to Rent and affordable housing market, Aware Super is excited to partner with Get Living, a market-leading and award-winning BTR platform with a 5 Star GRESB rating for its existing assets. Together, we can build a solid foundation to ensure the UK’s BTR housing market meets the growing demand.”
PATRIZIA investment
At the same time, PATRIZIA announced a £100 million investment for the development of highly sustainable affordable and social housing in south east England.
The programme has commenced with an investment to fund the development of 70 affordable homes in Milton Keynes.
Wolfgang Egger, Founder of PATRIZIA, says, “As a global real assets investor, PATRIZIA is thrilled to announce plans to invest £100 million into the development of highly sustainable, affordable housing in England.
“The programme will help address the acute shortage of good quality, affordable, EPC A-rated family housing for renters, and provide additional investment in social infrastructure. The investment strategy is a joint venture between PATRIZIA’s dedicated impact fund, PATRIZIA Sustainable Communities, and Man Group’s UK Community Housing business.”
The summit, attended by leading CEOs including Stephen Schwarzman from Blackstone, Amanda Blanc at Aviva, David Soloman from Goldman Sachs and also Jamie Dimon at JP Morgan Chase, will celebrate British Ideas — Past, Present and Future.
