Partners Group has used a separately managed account to acquire stakes in a €1 billion real estate fund run by real estate giant Colony Capital, PERE's sister publication, Secondaries Investor, reported Monday.
Partners Group Azalea Access bought the stakes in Colyzeo Investors II from Paris-based real estate firm Massena Partners and superannuation fund AustralianSuper, according to a UK regulatory filing. Colyzeo II is a strategic alliance between Colony and listed French investment firm Eurazeo, which anchored Colyzeo II with a €150 million commitment.
The 2007-vintage vehicle focuses on opportunistic strategies in western Europe and has made 11 investments including French supermarket chain Carrefour. Other investments from the fund include a Swiss private hospital, a Paris hotel and a number of European real estate non-performing-loan portfolios, according to Colony’s website.
Partners Group Pimlico Access, another Partners vehicle, had previously picked up a stake in Colyzeo II from UK endowment The Wellcome Trust in January 2016, as Secondaries Investor reported.
Azalea Access and Pimlico Access are understood to be individual mandates run by Partners on behalf of separate limited partners.
AustralianSuper manages more than A$100 billion ($77 billion; €72 billion) in assets on behalf of two million members, according to its website. It is Australia’s largest industry super fund.
Massena provides asset management investment advice and family office services to mainly entrepreneurs and private family groups. The firm has €2 billion in assets under management and as of June allocated 50 percent of its total investment to Colyzeo II, according to PERE data.
Partners, AustralianSuper, Colony and Wellcome Trust declined to comment. Massena did not return requests for comment.