EG has reported record growth across the 2021 Financial Year, raising $1.1 billion of equity and securing 18 assets totalling $1.6 billion.
FY21 was a strong year for EG’s Capital Transactions team, having purchased thirteen assets in Sydney as well as five located across other Australian capital cities. Four were acquired for the Yield Plus Infrastructure No. 2 Fund (YPI2), under a strategy that acquires yield-producing real estate with repositioning potential near new or upgraded infrastructure. EG also set a record for the largest sale during the June quarter, acquiring a portfolio of three office assets in Sydney to boost the Australian Core Enhanced Fund (EG ACE).
Earlier this year, EG announced new relationships with a major Dutch pension fund, and one of Asia’s largest listed real estate funds, and signed an investment mandate with an offshore sovereign wealth fund. The equity raised has helped to broaden EG’s scope for potential investment as the team continues to capitalise on new market opportunities. EG also launched a new Private Wealth division (EGPW) domestically in September 2020 which has had a tremendous first 12 months in response to high market demand.
“EG’s FY21 performance reflects the team’s dedication and hard work despite the challenges of the pandemic,” said Adam Geha, CEO and Co-Founder at EG.
EG has expanded its team, hiring 16 new recruits in FY21 including Fund Managers Chris Pak and James McAdam, Assistant Fund Manager Eva Tobin, Asset Managers Jason Severino and Kaimel Tayyar, and Analyst Joseph Chaaya. Looking to the future, EG believes in harnessing their team’s diverse range of skillsets as they continue to deliver great returns for investors.
Founded in 2000, EG manages $4.3 billion in real estate on behalf of super funds and private wealth clients to generate outstanding returns with lasting social impact. With $3.9 billion in development pipeline, and 16.7% per annum in realised IRR for institutional funds, EG is committed to finding a better path to better returns.