Australian bank Macquarie Bank has entered into a joint venture with Ochtar, the manager of the Lend Lease Global Properties fund.
Macquarie will take a stake in Ochtar, which was part of Lend Lease’s fund management business but was bought by its management earlier this year.
Ochtar will be renamed Macquarie Global Property Advisors and will continue to manage the £1bn Global Properties fund, which owns developer Akeler.
Head of Macquarie Property, Stephen Girdis, said: “We have pursued a strategy of exporting our investment management and investment banking expertise to niche property markets.
“The skills and capabilities of the Ochtar team in Asia and Europe will significantly enhance our international activities.”
References: EGi News 26/07/04
