The firm will expand its footprint in Australia with its first offices there, which places it closer to clients and assets totaling AU$3 billion ($2.03 billion).
U.K.-based M&G Investments has announced the opening of offices in Sydney and Melbourne on the back of strong client demand, the firm said in a statement on Wednesday.
To support its growing operations in Australia, M&G has appointed Chris Andrews as head of business development, based in Melbourne, and James McKinnon as head of Australia, Real Estate, based in Sydney.
Andrews, who has more than 30 years of experience in the fund management industry, and will focus on the full breadth of investment capabilities for institutional clients, the statement said. McKinnon brings 30 years of experience in Australia and Asia real estate, and will head the firm's real estate business in Australia.
Australia AUM
«This places us closer to our existing assets and new investment opportunities in core real estate in Australia, as well as helping us to meet increasing local client demand for real estate investments in Europe and Asia,» Tony Brown, M&G Real Estate global head, said about the company's move to set up the two offices.
As of mid-2019, M&G has AU$2 billion in real estate under management in Australia, and its Asia Pacific core real estate fund has 14 investments in Sydney, Melbourne and Brisbane, according to the company.
