The purchase, made for an undisclosed sum and effective from 17 December, represents a continuation of JPM AM’s “major push” into the Australian, Japanese and Singaporean property markets.
The platform will remain under the responsibility of the existing 16-strong team led by David Chen, JPM AM’s head of Real Estate Asia Pacific, with no changes scheduled to be made.
Aviva Investors explaining that it selected JPM AM to “ensure stability and continuity” for investors in the platform.
Aviva Investors also said the sale is part of the firm’s ongoing simplification and refocusing of its business towards a more integrated operating structure, and assured clients that its regional fixed income and real estate multi-manager operations will not be affected.
JPM AM head Joe Azelby said: “Growing in Asia Pacific has been a strategic imperative for us as a global real assets solutions provider.
“Asia Pacific presents an enormous investment opportunity for our clients – we have accelerated the expansion of our geographic footprint into a key real estate market.”