Leading Australian property funds manager ISPT has joined global private markets manager IFM Investors following the successful completion of a transaction to bring together the two Australian industry superannuation-owned businesses.
Following a process of detailed engagement with IFM Investors and ISPT shareholders, IFM Investors put forward a binding offer of transaction terms which was endorsed by the ISPT board in August and then a vote of ISPT shareholders in December.
The transaction was effected by way of a Scheme of Arrangement, and now, with all required approvals and conditions precedent now being satisfied, Friday 13 December marked the first day of the two businesses joining together.
IFM Investors and ISPT have a large common shareholder base and the purpose of both businesses is to contribute to building the retirement savings of working people.
Bringing ISPT into the IFM Investors platform presents an opportunity to combine the capabilities, talent and experience of the IFM and ISPT teams, helping create further opportunities to add value for clients and accelerate IFM and ISPT’s combined growth strategies.
Following completion of the transaction there will be no significant immediate changes to the day-to-day operations of IFM Investors and ISPT, branding or the services provided to our clients. Full integration of ISPT into IFM Investors will occur gradually with business as usual activities continuing as normal.
ISPT Chief Executive Officer Chris Chapple has been appointed to the role of IFM Investors Global Head of Real Estate and will sit on IFM’s Global Strategy Team.
Chris brings 30 years of property industry experience to IFM Investors. Prior to ISPT, he was CEO of Blackstone’s Australian real estate portfolio company, 151 Property, and has held various roles at Charter Hall, JLL and Multiplex.
Quotes attributable to IFM Investors Chair, Cath Bowtell:
“Bringing together two organisations that share common history, ownership and purpose will strengthen our capabilities, investment offering and our capacity to deliver for the retirement savings of millions of working people.”
“Over 30 years ISPT has developed a robust portfolio and strategic approach to investing in real estate that will help drive IFM’s growth strategy and enhance our offering to our clients.”
Quotes attributable to IFM Investors Chief Executive, David Neal:
“We are excited to bring ISPT’s offering into IFM’s platform. Combining our capabilities, talent and experience will help us create further opportunities to add value for our clients and accelerate our combined growth strategies.”
“It’s fantastic to have Chris Chapple join IFM as our first Global Head of Real Estate, his expertise and leadership will be an asset for IFM, our clients and the working people they represent.”
Quotes attributable to IFM Investors Global Head of Real Estate, Chris Chapple:
“We are pleased to be joining IFM Investors as they share the same purpose as us to build and protect the long-term retirement savings of working people, as well as a strong focus on sustainable investing which aligns with ISPT’s industry-leading ESG focus.”
“Bringing ISPT’s real estate capabilities together with IFM Investors’ broad global reach and deep investment experience will allow us to continue delivering exceptional outcomes for our clients, partners and stakeholders. In addition, being part of IFM will also enhance our ability to grow our business further and pursue new opportunities, allowing us to capitalise on anticipated improved market conditions for the real estate sector over the next 12 months.”
About us:
About IFM Investors
IFM Investors was established more than 25 years ago with the purpose to invest, protect and grow the long-term retirement savings of working people. Owned by a group of Australian pension funds, the organisation has approximately A$221.7 billion under management as at 30 September 2024. Because IFM is owned by industry pension funds, we prioritise the interests of 717 like-minded investors worldwide by focusing on assets that combine excellent long-term risk/reward characteristics with broad economic and social benefits to the community. Operating globally from offices in Melbourne, Sydney, London, Berlin, Zurich, Amsterdam, Milan, New York, Houston, Hong Kong, Seoul and Tokyo, IFM manages investments across infrastructure equity, debt, listed equities and private equity assets. For more information, visit www.ifminvestors.com.
About ISPT
ISPT is one of Australia's largest unlisted property fund managers, with $21 billion in funds under management. With a focus on delivering sustainable, long-term returns, ISPT manages a diverse portfolio of property assets across various sectors, including retail, office, industrial, residential, education, health, and life sciences. The company's market-leading environmental, social and governance (ESG) approach ensures responsible and sustainable practices across its portfolio.
Contact details:
Media contact: Jamila Fontana 0407 251 130 | jamila.fontana@ifminvestors.com