Melbourne-headquartered investment firm Industry Funds Management (IFM) has launched an office in Berlin to expand its presence in its core growth market.
The firm secured regulatory approval for its new office in April this year. The new office will be led by Lars Bespolka, who joined IFM five years ago following a 15 year career in investment banking. He was previously based in IFM’s New York office.
In Germany, IFM has an existing stake in 50Hertz Transmission, one of the four electricity transmission system operators in the country. The firm said it will work closely with 50Hertz to implement its €4bn capital investment programme, which is “fundamental” to the success of Germany’s transition to becoming a sustainable economy through the use of renewable sources of energy.
IFM CEO Brett Himbury said, “Europe is a core growth market for IFM as a global investment manager. Our Berlin office is reflective of our commitment to the market, and being on the ground locally will help build our presence in the region and maintain strong, long term relationships.”
IFM, which is owned by 30 pension funds, had more than €33bn under management as at the end of May this year.
Back in April IFM took control of the Hastings Private Equity Fund II, which was previously managed by Hastings Funds Management.
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