Industry fund Vision Super has awarded four property mandates worth more than $155 million.
The mandates encompass domestic and international core property investments as well as private equity.
Three of the mandates go to domestic property investors. The Eureka Core Property Fund III will invest $75 million, private equity specialist the Investa Enhanced Fund will invest $30 million and the Gresham Property Fund III will get $20 million.
Vision Super has also committed $30 million to the Macquarie Wanda Real Estate Fund to run an international private equity property fund. The fund specialises in Chinese shopping centres.
Vision Super chief executive Rob Brooks said the fund was implementing a long-term strategy of diversifying its property asset class to counter compressed yields in core Australia direct property.
"The opportunities in Australia's direct property market are becoming tighter at this stage in the cycle and Vision will continue to look for opportunities overseas," Brooks said.
The fund, which is advised by Pinnacle Property Group and Frontier Investment Consulting, has $3.4 billion under management and 100,000 members.
