EG Funds Management raises A$135m for Australian fund

Sydney-based EG Funds Management has completed a final closing for its High Income Sustainable Office Trust, a core-plus fund that invests in CBD office, suburban office and green assets throughout Australia.

The closed-end fund raised approximately A$135 million ($95 million) against a target of A$252 million ($177 million). It will seek to target office assets with low energy ratings and short lease durations, which the firm will then upgrade to high-energy ratings in order to secure new long-term leases.

Investors include the Clean Energy Finance Corporation, which committed roughly A$125 million ($88 million) in 2016.

The High Income Sustainable Office Trust has an investment term of nine years.