AMP Capital

AMP Capital was the investment-management brand of AMP Limited, an Australian financial-services group with roots extending to the nineteenth century. Based in Sydney, the business developed into a substantial manager of institutional and other professional-investor capital, with activities spanning financial markets and real assets. Its identifiable areas included equities, fixed income, private markets, infrastructure, property investment, property funds and the management of commercial, industrial and retail real estate. The brand operated beyond Australia and New Zealand through offices and investment relationships in Asia, Europe, the Middle East and North America. Its property platform was associated with a broad portfolio of Australian and New Zealand shopping centres, including assets such as Macquarie Centre, Pacific Fair, Indooroopilly Shopping Centre, Botany Town Centre and Bayfair Shopping Centre. Ownership interests and management responsibilities varied by asset, and the portfolio also included joint ventures and properties held through investment vehicles rather than direct corporate ownership. AMP Capital's international strategy included a significant relationship with Mitsubishi UFJ Trust and Banking Corporation, commonly known as MUTB. Announced in 2011, the alliance involved MUTB acquiring a minority interest and was intended to improve AMP Capital's access to Japanese institutional, retail and high-net-worth distribution channels. AMP Capital also participated in Asian joint ventures, including AIMS AMP Capital in Singapore and China Life AMP Asset Management. The business underwent major strategic change during the 2020s. AMP Limited repurchased MUTB's interest in 2020. In 2021, AMP explored a potential joint venture with Ares Management, later abandoned plans for that transaction, and announced an intention to separate and list the asset-management business. In 2022, AMP withdrew the proposed demerger and instead agreed to sell important parts of the platform. Dexus acquired the real-estate and domestic-infrastructure-equity operations, while DigitalBridge acquired the international-infrastructure-equity business. DigitalBridge announced completion of its acquisition of AMP Capital's remaining relevant operations in February 2023 and renamed the unit InfraBridge. As a result, AMP Capital is best understood as a historical brand and operating platform rather than a continuing standalone global asset manager. The AMP Capital name may still appear in archival materials, legacy investment vehicles or transition records, but the principal businesses described in the Wikipedia subject were transferred, reorganized or rebranded. Its historical significance lies in the scale of its institutional investment platform, its extensive real-assets capabilities and its role in AMP's attempt to reshape and ultimately divest its asset-management operations.

AMP Capital emerged as the investment-management platform within AMP Limited, an Australian financial-services group whose institutional and retail financial activities developed from an organization established in 1849. AMP Capital was headquartered in Sydney and became known as a large investment manager with a broad international footprint. Its activities served institutional and other professional investors and covered both traditional financial assets and long-duration real assets. The platform's investment capabilities included equities, fixed income, private equity-related strategies, property and infrastructure. It was also involved in property-asset and property-fund management. The property business gave AMP Capital a visible presence in Australian and New Zealand retail real estate, with interests or management roles connected to shopping centres such as Casula Mall, Dapto Mall, Macquarie Centre, Marrickville Metro, Northbridge Plaza, Royal Randwick Shopping Centre, Pacific Fair, Indooroopilly Shopping Centre, Westfield Liverpool, Westfield Warringah Mall, Westfield Southland, Bayfair Shopping Centre, Botany Town Centre, Manukau Supa Centa and The Palms. These assets were held through different structures, and inclusion in the historical portfolio did not necessarily mean full ownership by AMP Capital. AMP Capital expanded its international reach through offices in Australia and New Zealand and locations including China, Dubai, Hong Kong, India, Japan, Luxembourg, Singapore, the United Kingdom and the United States. It also formed regional partnerships. On 9 December 2011, AMP announced a strategic alliance with Mitsubishi UFJ Trust and Banking Corporation, a Japanese trust bank active in banking, trust assets, real estate and markets. MUTB acquired a minority interest in AMP Capital. The alliance was intended to give AMP access to a large share of Japanese institutional investors and parts of the country's retail, high-net-worth and securities-brokerage networks. AMP Limited later repurchased MUTB's shareholding in 2020. The platform also had Asian joint ventures, including a 50% interest in AIMS AMP Capital in Singapore, a real-estate investment trust management venture with AIMS Financial Group, and a 15% interest in China Life AMP Asset Management. These arrangements reflected AMP Capital's emphasis on regional distribution and local investment partnerships. AMP Capital entered a period of strategic uncertainty and restructuring in the early 2020s. In February 2021, AMP Limited announced a non-binding heads of agreement to investigate a joint venture with Ares Management. That proposal was not completed. In April 2021, AMP announced an intention to demerge AMP Capital and seek a listing on the Australian Securities Exchange. The plan was later dropped. In April 2022, AMP instead announced sales of major parts of the business: Dexus acquired the real-estate and domestic-infrastructure-equity operations, while DigitalBridge acquired the international-infrastructure-equity business. DigitalBridge announced in February 2023 that it had acquired AMP Capital for A$316 million and renamed the unit InfraBridge. The transactions fragmented the former AMP Capital platform across successor organizations and ended its position as a single, independently presented investment-management brand. Consequently, the brand's historical activities should be distinguished from the current legal and operating status of the businesses that once used its name.

• 2023

  InfraBridge rebrand

  [1]AMP Capitalen.wikipedia.org

  DigitalBridge announced the acquisition of AMP Capital for A$316 million and renamed the acquired infrastructure unit InfraBridge.

• 2022

  Demerger plan abandoned

  [1]AMP Capitalen.wikipedia.org

  AMP abandoned the proposed listing and announced sales of major AMP Capital businesses to Dexus and DigitalBridge.

• 2021

  Ares joint-venture proposal

  [1]AMP Capitalen.wikipedia.org

  AMP investigated a possible joint venture between AMP Capital and Ares Management under a non-binding heads of agreement; the proposal was later cancelled.

• 2021

  Proposed demerger and ASX listing

  [1]AMP Capitalen.wikipedia.org

  AMP announced plans to demerge AMP Capital and pursue a listing on the Australian Securities Exchange.

• 2020

  AMP repurchases MUTB stake

  [1]AMP Capitalen.wikipedia.org

  AMP Limited repurchased Mitsubishi UFJ Trust and Banking Corporation's shareholding in AMP Capital.

• 2011

  Strategic alliance with MUTB

  [1]AMP Capitalen.wikipedia.org

  AMP announced a strategic alliance with Mitsubishi UFJ Trust and Banking Corporation, which acquired a minority interest in AMP Capital and supported access to Japanese investment and distribution channels.

A diversified institutional investment manager with particular strength in property and infrastructure-related real assets.

• Investment management

  Institutional investment management

  Portfolio-management services for institutional and professional investors across multiple asset classes. Mandates could be tailored by investor objective, geography, risk tolerance and liquidity requirements.

• Real assets

  Property investment management

  Investment and management activities focused on commercial, industrial and retail property. The historical platform was associated with shopping-centre interests and management roles in Australia and New Zealand.

• Real assets

  Infrastructure equity

  Long-term investment in infrastructure and related real assets for institutional portfolios. Domestic infrastructure-equity activities were sold to Dexus, while international infrastructure-equity operations were acquired and renamed by DigitalBridge.

• Financial assets

  Equities and fixed income

  Traditional investment strategies included management of equity and fixed-income portfolios alongside alternative and real-asset capabilities.

• Private markets

  Private equity and funds of funds

  The historical business was described as having private-equity-related capabilities, including funds-of-funds activity, within its broader institutional investment platform.

• 2023

  Transfer infrastructure business to DigitalBridgeM&A

  Background

  DigitalBridge pursued the acquisition of AMP Capital's relevant infrastructure-investment operations.

  Action taken

  DigitalBridge announced the acquisition for A$316 million and renamed the unit InfraBridge.

  Aftermath

  The rebrand marked the transition of the acquired infrastructure platform away from the AMP Capital name.

  Reported acquisition value. A$316 million (2023)

  Source

• 2022

  Sell property and infrastructure operationsM&A

  Background

  AMP revised its plans for the asset-management platform after deciding not to proceed with a demerger and listing.

  Action taken

  AMP announced the sale of its real-estate and domestic-infrastructure-equity business to Dexus and its international-infrastructure-equity business to DigitalBridge.

  Aftermath

  The former AMP Capital platform was divided among successor owners, contributing to the end of the brand as a unified operating business.

  Source

• 2021

  Investigate Ares Management joint ventureM&A

  Background

  AMP explored structural options for its asset-management business, including a possible partnership with Ares Management.

  Action taken

  AMP entered into a non-binding heads of agreement to investigate forming a joint venture with Ares Management.

  Aftermath

  The proposed joint venture was cancelled.

  Source

• 2021

  Plan AMP Capital demerger and listingStrategy

  Background

  After the Ares proposal was abandoned, AMP pursued a standalone future for its asset-management operations.

  Action taken

  AMP announced plans to demerge AMP Capital and list the business on the Australian Securities Exchange.

  Aftermath

  AMP abandoned the proposed demerger in 2022 and chose asset sales instead.

  Source

• 2011

  Enter strategic alliance with MUTBM&A

  Background

  AMP Capital sought stronger access to Japanese institutional and retail investment channels.

  Action taken

  AMP announced an alliance under which Mitsubishi UFJ Trust and Banking Corporation acquired a minority interest in AMP Capital.

  Aftermath

  The relationship continued until AMP Limited repurchased MUTB's interest in 2020.

  Source

• 2022.02.10

  Reported2022.02.10

  AMP announces AMP Capital rename to Collimate Capital[3]AMP 宣布 AMP Capital 将更名为 Collimate Capitalinternational-adviser.com

  AMP Limited announced that its private markets investment division, AMP Capital, would be called Collimate Capital going forward. The rebrand was planned for just before the demerged firm’s planned Australian Stock Exchange listing in the second half of 2022.

• 2022.01.20

  Reported2022.01.20

  AMP Capital appoints CFO for PrivateMarketsCo[4]AMP Capital任命PrivateMarketsCo首席财务官moneymanagement.com.au

  AMP Capital appointed Nadine Lennie as chief financial officer for PrivateMarketsCo. Lennie was scheduled to commence the role in April 2022.

• 2021.07.30

  Reported2021.07.30

  Mirvac buys AMP Capital's stake in the EY Centre[5]Mirvac 收购 AMP Capital 持有的 EY Centre 股权brisbanetimes.com.au

  Mirvac exercised its pre-emptive rights to buy AMP Capital's interest in the EY Centre at 200 George Street, Sydney, with M&G Real Estate as an aligned capital partner. The article reports a $575 million sale.

• 2021.07.07

  Reported2021.07.07

  AMP Capital announces planned sale of equities and fixed income business[6]AMP Capital宣布计划出售股票及固定收益业务brisbanetimes.com.au

  AMP Capital announced plans to sell its global equities and fixed income business to Macquarie Asset Management in a binding agreement valued at $185 million.

• 2021.06.10

  Reported2021.06.10

  AMP Capital appoints Shawn Johnson as chief executive[7]AMP Capital任命肖恩·约翰逊为首席执行官moneymanagement.com.au

  AMP Capital announced the appointment of former State Street Global Advisors executive Shawn Johnson as its chief executive. He was scheduled to start on 28 June.

• Unconfirmed

  Reported2021.05.06

  Sadbhav Infrastructure secures long-term funding[8]Sadbhav Infrastructure获得长期融资business-standard.com

  Sadbhav Infrastructure Projects entered into a debenture trust deed to raise Rs 700 crore from investors led by Allianz Global Investors and AMP Capital; Rs 550 crore had already been funded.

• 2021.03.08

  Reported2021.03.08

  Fiera Capital announces acquisition of global equities capability from AMP Capital[9]Fiera Capital宣布收购AMP Capital的全球股票投资能力prnewswire.com

  Fiera Capital announced the acquisition of a global equities capability from AMP Capital, including a team of four investment professionals. The proposed transfer of the UCITS platform series remains subject to regulatory and other approvals.

• Unconfirmed

  Reported2020.12.01

  AMP Capital appoints David Atkin deputy CEO[10]AMP Capital任命David Atkin为副行政总裁moneymanagement.com.au

  AMP Capital appointed former industry fund executive David Atkin deputy chief executive; he would assume interim operational leadership until June 2021 while AMP continued searching for a permanent CEO.

• 2020.11.25

  Reported2020.11.25

  AMP Capital appoints Rebekah Swan to lead its New Zealand business[11]AMP Capital任命Rebekah Swan领导其新西兰业务nbr.co.nz

  AMP Capital appointed Rebekah Swan as managing director and head of clients for its New Zealand business. The appointment was effective immediately, replacing Bevan Graham.

Read more

1. 1AMP Capitalen.wikipedia.org
2. 2AMP Capital official websiteampcapital.com
3. 3AMP 宣布 AMP Capital 将更名为 Collimate Capitalinternational-adviser.com
4. 4AMP Capital任命PrivateMarketsCo首席财务官moneymanagement.com.au
5. 5Mirvac 收购 AMP Capital 持有的 EY Centre 股权brisbanetimes.com.au
6. 6AMP Capital宣布计划出售股票及固定收益业务brisbanetimes.com.au
7. 7AMP Capital任命肖恩·约翰逊为首席执行官moneymanagement.com.au
8. 8Sadbhav Infrastructure获得长期融资business-standard.com
9. 9Fiera Capital宣布收购AMP Capital的全球股票投资能力prnewswire.com
10. 10AMP Capital任命David Atkin为副行政总裁moneymanagement.com.au
11. 11AMP Capital任命Rebekah Swan领导其新西兰业务nbr.co.nz
12. 12AMP Capital appoints real estate CIO - Money Managementmoneymanagement.com.au
13. 13AMP sells investment business to Macquarie for A$185m | International Adviserinternational-adviser.com