Barings has acquired a majority stake in Swift Storage, an Australian developer, owner and operator of specialized high-tech contactless self-storage centers. The acquisition includes majority ownership in both the existing portfolio of assets (PropCo) and the operating business (OpCo). Barings has seeded approximately A$200 million ($130.7 million) of balance sheet equity with a vision to grow Swift into a nationwide, household-name platform.
Founded in 2022 by USS Funds Management (USSFM), Swift has pioneered a technology-enabled operating model, focused on contactless, drive-up storage unit estates with zero on-site staffing requirements. The property portfolio comprises 15 purpose-built self-storage centers and a secured pipeline of new self-storage developments across Queensland.
This acquisition marks a major milestone in Barings’ strategic entry into the growing self-storage sector in Australia and represents an extension of its established private equity real
