Tuesday, 05 June 2012
The key points relating to the global relationship are:
Goodman Group CEO, Greg Goodman said: “We are delighted to be establishing this new relationship with EPF. Adding EPF to our global platform is another importa nt step in the expansion of the Group’s funds management platform. Major global investors continue to target high quality income producing investments in a structure that provides access to a specialist team with strong alignment. We look forward to expanding our relationship with EPF in the near future.”
Goodman will provide management services to the portfolio on terms generally consistent with arrangements across its existing funds management platform.
As at 31 December 2011, EPF had assets under management in excess A$ 150 billion, with an underweight exposure to industrial and logistics real estate investment. The relationship with Goodman provides EPF with the opportunity to invest in prime leading, specialist industrial property group.
EPF’s Deputy CEO (Investment) Dato’ Shahril Ridza Ridzuan, said: “EPF intends to increase its exposure to real estate, by investing with best in class property groups around the world. Our selection of Goodman as our global investment partner for logistics real est ate was driven by their reputation, knowledge as a global sector specialist and high quality po rtfolio. Goodman’s ability to demonstrate their alignment of interest by investing alongside EPF was a key differentiating factor.”
As at 31 December, Goodman had a development book of A$2.1 billion, with total assets under management of A$18.9 billion.
“The relationship enables the Group and our managed funds to recycle assets to fund future development commitments and other growth opportunities in new markets, while retaining management of the assets.” Mr Goodman concluded.