St Bride’s Managers founder Robert Houston has added ?Australian firm EG Funds ?Management to the investment firm’s £1.2bn Global Alliance platform in a bid to extend its reach into Asia Pacific.
Sydney-based EG, which has A$1.3bn (£687m) of real estate assets under management in Sydney, Melbourne, Perth and Brisbane, will work with St Brides to source Australian assets for clients of the firm. The tie-up will also act as a conduit for EG, which acts primarily on behalf of Australian pension funds and institutions, to invest in UK property.
The St Bride’s Global Alliance was formed by ex-ING Real Estate chief executive Houston in 2010 and comprises St Bride’s Managers UK, St Bride’s Managers US, and St Bride’s Managers Spain.
The purpose of the alliance is to promote cross-border investment on behalf of clients of ?St Bride’s Managers.
St Bride’s is looking to invest €200m (£158.9m) in Spanish real estate via the alliance, and $150 (£87.6m) in North America.
The US arm has already invested $60m in a pair of San Francisco retail properties.
St Brides has not set an ?investment target for Asia Pacific.
sophia.furber@estatesgazette.com
