Aditya Birla Sun Life AMC collaborates with BentallGreenOak for a structured credit investment vehicle
Mumbai (June 21, 2022) — Aditya Birla Sun Life AMC Limited (ABSLAMC), a subsidiary of Aditya Birla Capital Limited and investment manager to Aditya Birla Sun Life Mutual Fund (ABSLMF) announced today its collaboration with BentallGreenOak, a global real estate investment management advisor that is part of the alternatives asset management business of SLC Management, to form a structured credit investment vehicle. The investment vehicle will target structured debt investments in post-approval real estate projects primarily in tier 1 metropolitan locations. The collaboration brings together two established investment managers with significant individual research, underwriting and asset management capabilities, and extensive track records in both the domestic and international markets. As part of the collaboration, ABSLAMC will rely on the advice from BentallGreenOak while recommending investment opportunities to the investment committee.
Commenting on this collaboration, Mr. A. Balasubramanian, MD & CEO, Aditya Birla Sun Life AMC Limited said, “We are delighted to partner with BentallGreenOak in developing a strong credit platform for the real estate sector. It is a coming together of two strong brands, Aditya Birla Sun Life AMC Limited, a 27 year old diversified asset manager and BentallGreenOak, one of the leading global real estate investment manager, bringing a global institutional perspective. We look forward to this association that enables leveraging each other’s strengths and developing a formidable partnership. The real estate sector is seeing a strong revival with housing loan interest rates at decadal lows and property prices largely remaining flat. We believe substantial savings due to falling interest rates and stagnant property prices will aid in affordability and further lead to higher demand, especially in the residential real estate segment.”
“The residential real estate sector in India is structurally attractive, driven by favourable demographics, a healthy domestic talent pool, low mortgage rates and improving transparency,” said Sonny Kalsi, Co-CEO, BentallGreenOak. “The team at BentallGreenOak is thrilled to partner with Aditya Birla Sun Life AMC to unlock value, and jointly grow the platform. Aditya Birla Sun Life AMC is a leading asset manager with a strong local track record and we are committed to investing our global resources and capabilities to build this partnership and deliver access to exciting new investment avenues for our global investors and clients.”
About Aditya Birla Sun Life AMC Limited
Established in 1994, Aditya Birla Sun Life AMC Limited (ABSLAMC), is a joint venture between the Aditya Birla Capital Limited and Sun Life (India) AMC Investments Inc.
ABSLAMC is the investment manager of Aditya Birla Sun Life Mutual Fund, a registered trust under the Indian Trusts Act, 1882. ABSLAMC also operates multiple alternate strategies including Portfolio Management Services, Real Estate Investments and Alternative Investment Funds. ABSLAMC is the fourth largest asset manager in India, with approximately INR 2,958 billion of assets under management as of March 31, 2022.
About BentallGreenOak
BentallGreenOak is a leading, global real estate investment management advisor and a globally-recognized provider of real estate services. BentallGreenOak serves the interests of more than 750 institutional clients with approximately $78 billion USD of assets under management (as of March 31, 2022) and expertise in the asset management of office, industrial, multi-residential, retail and hospitality property across the globe. BentallGreenOak has offices in 24 cities across twelve countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients in primary, secondary and co-investment markets.
BentallGreenOak is a part of SLC Management, which is the alternatives asset management business of Sun Life.
The assets under management shown above includes real estate equity and mortgage investments managed by the BentallGreenOak group of companies and their affiliates, and as of 1Q21, includes certain uncalled capital commitments for discretionary capital until they are legally expired and excludes certain uncalled capital commitments where the investor has complete discretion over investment.
For more information, please visit www.bentallgreenoak.com
About Aditya Birla Capital Limited
Aditya Birla Capital Limited (ABCL) is the holding company for the financial services businesses of the Aditya Birla Group. Anchored by an extraordinary force of over 140,000 employees, belonging to 100 nationalities, the Aditya Birla Group operates in 36 countries across the globe.
ABCL’s subsidiaries have a strong presence across Protecting, Investing and Financing solutions. ABCL is a universal financial solutions group catering to diverse needs of its customers across their life stages. Powered by more than 23,500 employees, the subsidiaries of ABCL have a nationwide reach with 900+ branches and more than 2,00,000 agents / channel partners and several bank partners.
As of March 31, 2022, Aditya Birla Capital Limited manages aggregate assets under management over Rs. 3,706 billion, has a consolidated lending book of approx. Rs. 672 billion, and an active customer base of over 35 million, through its subsidiaries and joint ventures.
About Sun Life
Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of March 31, 2022, Sun Life had total assets under management of $1.35 trillion. For more information, please visit www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.
