Privatisation reset puts ‘simplified’ ESR on growth path from Singapore
It has pulled US$700 million in foreign capital to Singapore over the last two years, and aims to double core AUM to more than US$80 billion by 2030
[SINGAPORE] Real estate fund management giant ESR Group’s decision to privatise, move its headquarters from Hong Kong and “clean up” its portfolios last year marked a strategic shift – and the capital is following.
The group has channelled roughly US$700 million of foreign capital into projects in Singapore through private funds over the last two years (*see amendment note), ESR Group president Phil Pearce told The Business Times in an interview.
These include logistics and industrial developments such as built-to-suit warehouse facility DSV Pearl in Taman Jurong; Sunview Logistics & Container Hub, a multi-storey warehouse and container depot in Jurong; and a high-specification manufacturing facility at 20 Tuas South Avenue 14.
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