Report: CapitaLand in Talks to Buy Australian Investment Manager Wingate

Temasek-backed CapitaLand Investment is said to be nearing a deal to acquire Australian alternative investments manager Wingate Group, which manages an aggregate AUM of A$8B (~$5.2B), per a report by the Australian Financial Review.

Negotiations between the two parties have been ongoing over the last three months, and were initially expected to conclude in August. CapitaLand has yet to confirm the report and said it will “make an announcement when there are material developments.”

The move would further expand the Singaporean global asset manager’s Australia presence, which was recently bolstered with the appointment of a new CEO and CIO to lead its expansion in the country. CapitaLand said that as of June 30 it manages S$134 (~$99.4B) in total assets across its platforms, comprising S$39B (~$28.9B) of funds under management from its private real estate portfolio.

Source: https://www.afr.com/street-talk/singapore-s-capitaland-in-talks-to-acquire-wingate-group-20241124-p5kt54