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Real estate groups ready to move on infrastructure managers

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There’s a new hunting ground for the country’s real estate bankers: infrastructure investment managers and anyone else with a pile of alternative assets.

Chris Hopkins

Dexus, keen to boost its third party funds management, beat a handful of its property rivals to secure owner AMP’s signature, in a clear sign it is not the only big real estate group ready to spread its wings and get involved in infrastructure asset management. The hard thing for the bankers is finding the candidates. Westpac’s Hastings Funds Management is long gone , while the other big players are industry super owner IFM Investors, QIC and MorrisonThe one that could be jagged is Infrastructure Capital Group, an acquisitive mid-market manager that butt heads with AMP Capital in plenty of auctions over the years. ICG is part-owned by businessman Mike Fitzpatrick, whose stake is reportedly up for grabs via Berkshire Capital.

 

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