This article is from the Australian Property Journal archive
MELBOURNE-based global fund manager Salter Brothers has made an investment in built-form advisory firm Hendry Group, which has been recognised as an emerging player in proptech sector.
Hendry has a 37-year history in the risk and compliance sector and in 2018 it was ranked 53rd in the AFR Boss 100 Most Innovative Companies List. Salter Brothers co-founder and CEO Robert Salter said this investment will support the evolving Hendry business model.
Salter commented on the firm’s particular focus on the development and application of digital technologies to improve business practice.
“We see Hendry as a dominant and disruptive force in the property sector, with a unique position to successfully pivot operations to meet the complex and challenging demands of the built-environment.
“Emma (Hendry CEO) has a clear vision for the future of the advisory industry and has successfully transitioned Hendry to be a first mover in the provision of a digital approach to meet both current market demands and also position the business to expand into new markets both nationally and globally,” he added.
Hendry Group CEO Emma Hendry welcomed Salter as a strategic partner, adding that this partnership is “our next step towards cementing Hendry as Australia’s largest integrated risk, compliance and asset optimisation firm; partnering with a globally established private equity player marks a key phase in initiating a wider presence.”
This investment will diversify Salter Brothers’ $2 billion assets under management portfolio to include disruptive technology company, alongside its property/real estate, interactive virtual agent, digital health and telecommunication sectors as well as owning and managing hotels and specialist property assets.
Salter Brothers’ property funds hold seven hotels and two developments, with over 2,100 rooms across Australia. Recently the group snapped up the Next hotel and retail in Brisbane’s Queen Street Mall for $150 million.
As part of the investment, Salter will join Hendry’s board as chairman, complemented by Tineyi Matanda (private equity manager).
“Hendry presents an attractive investment given its strong market dominance and brand recognition; Hendry also aligns with the Salter Brothers’ investment ethos as the company is transforming the current state of the property services sector and delivering significant value to end-customers, via the development and application of emerging technologies,” Matanda said.
