Property for Industry general manager Peter Alexander is to head up AMP Henderson's new property ventures unit.
The unit will identify new high-margin property investment and development opportunities for AMP Henderson and its clients in New Zealand.
AMP Henderson’s head of property, Anthony Beverley, said the property ventures unit was an outcome of the company’s 'core and satellite' approach to property investment.
This approach to property investment is employed widely in overseas markets, providing an opportunity for greater returns and diversification.
Core property activities are conventional real estate investments, with a focus on yield-based returns. Satellite activities are more opportunistic, targeting a higher return and accordingly, accepting a greater risk.
AMP Henderson manages three main property investments, AMP NZ Office Trust, PFI, and the wholesale, unlisted AMP Property Portfolio, are all considered core property investments.
“However, AMP Henderson is also aware of a range of higher risk/return opportunities which do not fit the well-defined investment mandates and risk profiles of the core funds," Beverley says.
"The AMP Henderson property ventures unit will focus mainly on ‘satellite’ activities, and will operate across all property types and transactions, taking advantage of our existing deal flow and our expertise in investment and development.
