Scottish-based asset manager Aberdeen Standard Investments buys Hong Kong-based estate investment manager Orion Partners and expands its Asian real estate capability, according to an announcement.
Orion Partners is headquartered in Hong Kong and manages around USD 900 million of direct real estate investments in Asia for institutional investors. Aberdeen Standard Investments does not want to disclose the acquisition price.
"For investors seeking diversification, Asian real estate offers attractive risk-adjusted returns, with less correlation to broader market volatility", says Hugh Young, head of Aberdeen Standard Investments, and continues:
"Having established a track record across equities, fixed income, private equity and real estate multi-manager investing in Asia Pacific over the years, this is a good opportunity for us to build out our regional real estate presence. At a time when global investors’ allocation to alternatives and real assets are growing, being able to offer a truly one-stop real estate solution is an integral part of our growth strategy."
"Our real estate multi-manager business has invested with Orion Partners in Asia Pacific for more than a decade; it is a team we have known well and admired for its client-focused and transparent approach, much in line with ASI's own culture. The addition of the on-the-ground direct real estate teams in Japan, Korea, Hong Kong and Singapore will deepen our local insights and broaden our product suite across the region", says Kang Puay Ju, head of real estate Asia Pacific and global head of real estate multi-manager, in the announcement.
The enlarged global business will house over 300 real estate professionals, managing over 1,600 properties worldwide from 20 local offices.
Aberdeen Standard Investments is Europe's second largest real estate investment manager, managing USD 56.3 billion of real estate assets across UK, Europe and Asia Pacific, distributed on over 60 global real estate assets.
English Edit: Lisa Castey Hall Nielsen