Malaysia’s EPF invests in Australian healthcare real estate fund

Malaysia’s $200 billion pension fund Employees Provident Fund has plans to invest A$100 million ($70 million) in an Australian healthcare real estate fund managed by real estate developer Dexus.

Dexus Healthcare Wholesale Property Fund, an open-ended unlisted property fund, was launched in 2017 in a joint venture with Adelaide-based developer Commercial & General. Its seed portfolio comprises approximately A$370 million ($260 million) of properties.

It has started to invest its capital. The fund has plans to acquire North Shore Health Hub, stage 1 of the development at a healthcare precinct in Artarmon on Sydney’s lower North Shore. To be known as the St Leonards Health and Education Precinct, the broader development could ultimately be home to around 85,000 square meters (915,000 square feet) of healthcare-related real estate.

The A$300 million ($210 million) facility will be anchored by Ramsay Healthcare and Genesis Care, which account for around half