Global fund manager IFM Investors and Industry Super Property Trust have jointly launched an international unlisted real estate investment manager for institutional investors.
According to a statement, the joint venture – a company called International Property Funds Management (IPFM) – aims to provide institutional investors with “competitive risk-adjusted returns”.
The fund manager will “initially target diversified property investments with a focus on core, income-producing assets”.
Commenting on the joint venture company, IPFM chief executive Tony McCormack said it would be formally launched in Q3 2018.
“IPFM will provide institutional investors with a unique pathway into offshore real estate, premised on best-of-breed transaction execution and asset management, as well as a highly competitive fee model to ensure maximum benefits are passed back to investors,” said Mr McCormack.
He added that IFM Investors and ISPT brought “natural benefits” to the new company, including IFM Investors’ global reach and ISPT’s expertise in property investment and asset management.
IPFM will be headed by Mr McCormack, with Frontier Advisors head of property, senior consultant Tim Stringer, in the role of chief investment officer as well as investment managers Tony Singh and Marc Fregredo.
The team’s first investment strategy will be a “diversified pool fund” with a focus on “properties in Pan-European gateway cities”, according to the statement.
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