At last confirming ongoing rumors, CapitaLand Investment on December 16 announced the strategic acquisition of Australian private credit investment manager Wingate Group Holdings for AUD$200M ($127M).
The firms had reportedly been in discussions for several months and were initially expected to reach an agreement as early as August, Dakota reported on November 26. The acquisition of Wingate will allow CLI to expand its private credit business and portfolio in Australia, enlarging its proprietary deal origination networks and enhancing its access to institutional and wealthy private investors in the market.
Upon the completion of the deal, CLI’s will add logistics, business park, office, and lodging assets across nine Australian cities to its portfolio. Wingate’s AUD$2.5B ($1.5B) in funds under management (FUM) is expected to boost CLI’s FUM to S$115B ($85B), marking a 30% increase in CLI’s FUM in Australia and representing 7% to its total managed funds. CLI said the Wingate acquisition will also further its goal to grow its private funds business to S$200B ($158B) in FUM by 2028.
The acquisition is pending regulatory approval and is expected to close in the coming months. CLI intends to maintain and grow Wingate's business under its current management, preserving its Australian identity.
