Industry super-owned IFM to invest $50 million into smart urban properties Australia

Industry super fund-owned global funds manager IFM Investors has today entered into binding transaction documentation to invest $50 million in Smart Urban Properties Australia (SUPA), Australia’s first unified services provider of converged utilities and communications infrastructure.

With A$217 billion in funds under management, as at 31 March 2023, IFM’s investment also brings a wealth of networks, relationships and specialist skill sets, which will be leveraged to support SUPA’s growth strategy.

SUPA Group CEO Geoff Horth says the partnership with IFM will allow SUPA to change the game for property investors, developers, and owners, improving the lifestyles of the communities it serves by developing smarter, safer, more sustainable urban properties.

“We are delighted to be partnering with IFM on this next stage of our exciting growth journey - it will provide growth capital to deliver our existing pipeline of projects, while allowing us to make further investments to increase our market share. Over several months working with the IFM team, it has become clear that this opportunity is in the best long-term interests of the company. IFM’s relationships and networks, our alignment on strategy and ambition and our shared values provide the ideal platform for us to deliver outstanding returns for all SUPA investors,” said SUPA Group CEO Geoff Horth.

“Our investment in SUPA is aligned with IFM’s private equity strategy of investing in companies that we assess as having a proven, resilient business model and an actionable growth agenda, which have the potential to deliver returns to our investors and their beneficiaries, which include millions of working people. We are delighted to be partnering with SUPA on their mission to improve the lifestyles of people living and working in apartment complexes and other multi-dwelling properties all across Australia,” said IFM Executive Director Jeremy Larkin.

The SUPA Board and management team unanimously supports the investment by IFM, with the transaction expected to complete in August 2023 subject to SUPA shareholder approval.

At completion, it is intended that Daniela Wegner and Jeremy Larkin from IFM will join the board of SUPA.

Wilsons Advisory acted as financial adviser to SUPA in relation to the transaction.

SUPA Media Enquiries: Lauren Zammit on 0491 629 919 / lauren@roadmap.global

IFM Media Enquiries: Jamila Fontana on 0407 251 130, media@ifminvestors.com

About IFM Investors

IFM Investors was established more than 25 years ago with the aim to invest, protect and grow the long-term retirement savings of working people. Owned by a group of Australian pension funds, the organisation has A$217 billion under management as at 31 March 2023. Because IFM is owned by industry pension funds, we prioritise the interests of 640 like-minded investors worldwide by focusing on assets that combine excellent long-term risk/reward characteristics with broad economic and social benefits to the community.

Operating globally from offices in Melbourne, Sydney, London, Berlin, Zurich, Amsterdam, New York, Hong Kong, Seoul and Tokyo, IFM manages investments across infrastructure, debt, listed equities and private equity assets. The investment in SUPA is to be made by IFM’s private equity Growth Partners Fund.

Find out more at ifminvestors.com.

About About SUPA

Smart Urban Properties Australia Limited (SUPA) was formed in 2022 with the ambition to improve the lifestyles of the communities it serves by inspiring smarter, safer and more sustainable urban properties and elevated occupier experiences.

SUPA is Australia’s first unified services provider of converged utilities and communications infrastructure, integrated in-building technologies, platforms and smart apps for multi-occupant properties.

Focused on increasing property attractiveness and valuation for property investors, owners and occupiers, SUPA is on your side when it comes to making smarter, sustainable urban properties more accessible and affordable.

Learn more at www.smarturbanproperties.com.au.