This article is from the Australian Property Journal archive
Diversified property development, construction and investments company Oreana has launch its new investments capability to the Australian market along with a new fund that offers investors access to professionals services firms seeking growth.
The professional partners fund is a close-ended Australian unit trust fund targeting an initial capital raise of $30 million, with expectations of raising over $100 million this year.
The funds management business was established in Asia in 2017 and has been operating in the region since. Oreana’s acquisitions and investments in the financial services sector include the acquisition of NAB Private Wealth Hong Kong in 2016 and former financial advice group Grant Thornton Private Wealth.
It launched its Australian financial services business in the lead up to the 2018 Banking Royal Commission and currently partners with 35 advice firms across Australia.
“We are excited to bring our funds management business to Australia having already been operating selectively across Asia for some time. Our investment expertise will now be available to Australian, Asian and global investors,” said Luke Moore, Oreana’s CEO – investments.
“We invest in businesses where we hold internal expertise, and where we can actively engage to enhance performance – like financial services.
“We are investing in established and profitable small to mid-tier financial services firms across Australia, while also exploring larger strategic opportunities as time prevails. Having been on the journey with advice firms since the Royal Commission, we see strong growth fundamentals for the sector which presents an attractive opportunity for global sophisticated and institutional investors.”
In its real estate business, Oreana has just started construction on the $45 million Linfield Place, a new convenience based shopping hub in Melbourne’s growth suburb of Wollert, while it offloaded the Kallo Town Centre in Kalkallo for $64.5 million, on a 5.98% yield.
Last year it stepped into the Queensland market with the purchase of a prime 21-hectare master-planned community in Morayfield with approval for 252 lots, and also moved into the Western Australian market.
In inner Melbourne, it is overhauling South Yarra Square into hotel, retail, and offices to the tune of $250 million.
