Growthpoint Properties Rebrands Its Co-investment And Co-management Business
Growthpoint Properties Rebrands Its Co-investment And Co-management Business. Growthpoint Properties has announced that its ‘funds management business’ will be formally named Growthpoint Investment Partners. The name reflects its strategy to co-invest and co-manage specialist alternative real estate investment portfolios where Growthpoint is both a capital partner and management partner.
Norbert Sasse, Growthpoint Group CEO, said in a statement, “The time has come to create a formal identity for this robust partnership platform. Growthpoint Investment Partners has gained strong momentum and is successfully attracting co-investment capital. It delivers one of our core strategies, but has a distinctive investment model different from Growthpoint Properties’, and we wanted to reflect this in its new name.”
Growthpoint began the groundwork for Growthpoint Investment Partners in 2014, when it identified internationalisation, local portfolio optimisation, trading and development, and co-investment as its core strategies. Before this, Growthpoint had favoured sole-ownership investments in SA almost exclusively, and in response it created a new platform to deliver its co-investment, co-management strategy.
Its new tactic as an investment partner is to leverage the management skills that have grown Growthpoint into a leading international property company as this is a proven defensive growth strategy in the low-growth capital-constrained South African market, and led to a co-investment approach that has quickly gained traction. From a zero-base in 2018, Growthpoint Investment Partners has already topped its target R15bn of assets under management by 2023.
Now, it is aiming to double this in the next five years. The growth of Growthpoint Investment Partners is adding meaningful depth to the real estate market by creating access to alternative opportunities in the unlisted and co-invested environment for the broader investment community, its investment partners as well as Growthpoint.
