SYDNEY, June 5, 2012 /PRNewswire-Asia/ -- Goodman Group
(Goodman or Group) and the Employees Provident Fund (EPF) are
pleased to announce the establishment of a global relationship
commencing in Australia, which
will invest in high quality, stabilised logistics assets.
The key points relating to the global relationship are:
- Investment in an initial Australian portfolio of circa
A$400 million, comprising six
stabilised logistics assets sourced equally from the Group and its
managed funds;
- A combined equity commitment for Australia of A$500
million; and
- Goodman will retain an interest in the portfolio, on an
initial 40/60 basis, with EPF holding the majority
share.
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 important
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 quality
logistics assets, with a 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
estate was driven by their reputation, knowledge as a global sector
specialist and high quality portfolio. 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.
About Goodman
Goodman Group is an integrated property group with operations
throughout Australia, New Zealand, Asia, Europe
and the United Kingdom. Goodman
Group, comprised of the stapled entities Goodman Limited and
Goodman Industrial Trust, is the largest industrial property group
listed on the Australian Securities Exchange and one of the largest
listed specialist fund managers of industrial property and business
space globally.
Goodman's global property expertise, integrated
own+develop+manage customer service offering and significant fund
management platform ensures it creates innovative property
solutions that meet the individual requirements of its customers,
while seeking to deliver long-term returns for investors.
For more information please visit www.goodman.com.
About the Employees Provident Fund
The Employees Provident Fund (EPF) is Malaysia's premier retirement savings fund,
providing basic financial security for retirement. The Fund is
committed to preserving and growing the savings of its members in
accordance with best practices in investment and corporate
governance. It will always be guided by prudence in its investment
decisions.
As a customer-focused organisation, EPF delivers efficient and
reliable services for the convenience of its members and registered
employers.
EPF continues to play a catalytic role in the nation's economic
growth, consistent with its position as a leading savings
institution in Malaysia.
SOURCE Goodman Group