HESTA dips into European alternative property | Australian Markets
Australian superannuation fund, HESTA, has entered the European alternative property market by way of its present investment relationship with world real estate firm, Heitman.
The investment management firm confirmed HESTA would make an investment in a number of alternative property varieties, together with self-storage, pupil housing, residential and healthcare.
“The new allocation with Heitman will support us to continue to build a well-diversified portfolio of property investments designed to help deliver strong long-term returns for our more than one million members,” HESTA Head of Portfolio Management, Jeff Brunton, mentioned.
Caleb Mercer, Managing Director, European Real Estate Investment at Heitman, welcomed the super fund’s transfer into the alternative space.
“Unlike the traditional property types, the alternative sectors are driven by needs-based demand and are undersupplied, making them less tied to economic cycles,” he mentioned.
“We believe this makes them an attractive way to benefit from the price reductions available in Europe whilst mitigating exposure to uncertain economic conditions.”
The new investment will sit alongside HESTA’s present involvement with Heitman by means of its US core investment strategy, including to the investment supervisor’s more than $8 billion in funds underneath management (FUM) presently held throughout real estate equity and debt.
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