AMP Capital enters China funds management with China Life JV

AMP Capital has appointed Nick McGrath as Fund Manager for the AMP Capital Wholesale Office Fund (AWOF).

Mr McGrath will be responsible for delivering the strategy, growth and investment performance of the A$2.9 billion fund.

Mr McGrath is currently the Chief Executive Officer (CEO) of the AIMS AMP Capital Industrial REIT (AAREIT), a Singapore-listed industrial REIT with total assets of S$1.1 billion and managed in a 50/50 joint venture by AIMS Financial Group and AMP Capital.

AMP Capital Head of Property Funds Management Chris Judd said Mr McGrath brings strong credentials to the role, gained from over 13 years in the Australian and Asian property funds industry. Nick is a very capable leader having held a variety of roles in funds management, capital transactions and corporate finance.

“After joining the REIT as CEO in 2009 Nick set a clear vision and compelling strategy to successfully tackle challenges the REIT faced through the GFC and deliver outstanding investment performance.

“Nick has demonstrated the ability to build a strong successful team and drive growth in the portfolio through acquisitions and significant development opportunities,” Mr Judd said.

Prior to joining the AA-REIT as CEO in 2009, Mr McGrath was the CEO of the Allco Commercial REIT (now known as Frasers Commercial Trust) and Managing Director of Allco (Singapore) Limited, where he established their real estate funds management business and was responsible for growing assets under management in excess of S$2 billion. Before moving to Singapore in 2005, Mr McGrath was a lawyer at a leading Australian law firm, Blake Dawson (now known as Ashurst).

Mr McGrath will commence his new role from 1 January 2014. In the interim, Tim Nation will continue as Acting Fund Manager.

The AMP Capital Wholesale Office Fund is an open-ended unlisted trust which offers investors exposure to high quality assets across the principal office markets in Australia and New Zealand.

 

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