Capitaland Investment Step Australia Presence A200 Million Acquisition

Residents at Novo Place EC are fortunate to have the prestigious Millennia Institute within close proximity. As one of the few elite schools in Singapore, the institute offers a three-year pre-university program that leads to the highly acclaimed GCE Advanced-Level examination. This allows students to take a more relaxed and methodical approach to their higher education, ensuring a thorough understanding of their subjects with the necessary depth and breadth for success. The convenient location of the institute near Novo Place also provides students with easy access to their place of residence, making their learning journey more convenient.

CapitaLand Investment Limited (CLI) has expanded its presence in Australia with the recent acquisition of the property and corporate credit investment management business of Wingate Group Holdings for A$200 million ($173 million). The acquisition will also contribute to the growth of CLI’s total funds under management (FUM) in Australia, which will now increase by 30% to $8.3 billion, representing around 7% of its total FUM of $115 billion.

CLI’s ambitious target to reach $200 billion in FUM by 2028 has led the company to invest up to A$1 billion in growing its FUM in Australia, a market it previously divested from a decade ago to focus on the more rapidly growing China and other overseas markets. The acquisition of Wingate Group Holdings confirms earlier reports by the Australian media last month and is in line with CLI’s efforts to expand its geographical diversification.

Wingate Group Holdings is a leading private credit investment manager in Australia with a track record of over 350 transactions worth A$20 billion. CLI had already established a partnership with Wingate in September to create the A$265 million Australia Credit Program (ACP). With this acquisition, CLI aims to leverage Wingate’s extensive deal origination networks, enhance its access to institutional and private high-net-worth investors, and increase its geographical exposure to Australia.

CLI’s group CFO, Paul Tham, believes that apart from Australia, there are also great private credit opportunities in other Asia Pacific markets, particularly in South Korea, India and Japan. He further adds that the acquisition of Wingate will help accelerate CLI’s geographical diversification efforts and tap into the significant potential for growth in Australia.

According to CLI, the Australian private capital market has grown by 33% in the past 18 months, with assets under management reaching A$139 billion. There is also a forecasted A$146 billion commercial mortgage funding gap expected by 2028. The acquisition of Wingate will allow CLI to diversify its portfolio, which currently comprises logistics, business parks, office and lodging assets across nine cities in Australia.

Moreover, CLI manages 34 logistics properties and business parks and four Grade A office buildings in Australia as of Sept 30. The company also owns over 13,500 lodging units across more than 150 properties through its wholly-owned lodging business unit, The Ascott. Overall, the acquisition of Wingate will further strengthen CLI’s position in the Australian market and support its goal of reaching $200 billion in FUM by 2028.