Barings to buy Australian private equity real estate firm Altis

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HONG KONG — U.S. asset manager Barings has signed a share sale agreement to acquire 100% of Altis Property Partners, an Australian private equity real estate firm, Barings announced on Thursday without disclosing the deal price.

The acquisition, expected to complete on Sept. 1, will add A$6.079 billion ($4.30 billion) in asset under management to Barings’ $48.9 billion real estate portfolio, the statement said. ($1 = 1.4132 Australian dollars) (Reporting by Selena Li; Editing by Christian Schmollinger)

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