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Markets Live, Wednesday 11th August 2021

Fund manager and investor Centuria Capital doubled its assets under management to $ 17.4 billion during the pandemic in 2020-21.

The increase is due to transactions and the acquisition of New Zealand’s Augusta Capital, Primewest based in Perth, and a 50 percent investment in fund manager Bass Capital for debt capital.

John McBain and Jason Huljich have not yet filled any $ 2.3 billion mandates. Credit:

The growth in the coming year will be driven by the institutional mandates totaling 2.3 billion US dollars in four funds, which do not yet have to be fully fulfilled.

These mandates cover healthcare, office and everyday retail.

Listed on the ASX, $ 2.45 billion Centuria is an investment manager with more than $ 17 billion in assets under management through a number of listed and unlisted funds.

During the year, the unlisted funds grew 175 percent to $ 11 billion and the listed platform grew 37 percent to $ 5.5 billion.

All of this has resulted in the Group’s total revenue increasing 40 percent to $ 212.7 million, while after-tax operating profit rose 32 percent to $ 70.2 million.

Payouts rose 17.6 percent to 10 ¢, payable on July 30, and the forecast for 2022 is 13.2 ¢.

Joint managing directors and founders John McBain and Jason Huljich said Centuria Capital will continue to focus on finding quality real estate investment opportunities over the coming year, “leveraging our in-depth real estate expertise and using our platform to create value for our investors”.

They said Centuria has a total of $ 2.3 billion in institutional mandates across four funds that are yet to be fully met.

These mandates cover healthcare, office and everyday retail.

“2021 was a record year of growth on our listed and unlisted platforms,” they said.

“Offices, industrial and healthcare remain the backbone of our real estate platform, but we have continued to diversify our asset classes and expand into three attractive new sectors – agriculture, large format retail and everyday retail, which emerged from our merger with Primewest. ”

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