Sydney-based property firm Intergen Property Group has launched a funds management arm led by former Challenger fund manager Trevor Hardie.
The new I-Gen Funds Management intends to launch its first fund in early 2017 and acquire five commercial properties in the next 12 months, Mr Hardie said.
“We are already working on a commercial property mandate in NSW and are targeting retail, office and industrial assets across the Eastern Seaboard,” he said.
“We will be targeting assets where we can add value through active asset management and re-development, as well as identifying future high growth commercial property areas.”
Mr Hardie said the decision to launch the $200 million fund came following demand for mid-sized property investment opportunities among Intergen’s existing clients, institutions, and superannuation funds.
The fund will focus on risk-adjusted returns for retail investors, and Intergen chief executive Murray Bell said it will look to generate intergenerational wealth.
“As with the rest of the Intergen Property Group, Trevor and his team will be focused on creating long term wealth for our investors and following generations,” he said.