Australia’s IFM changes name, opens Tokyo office
Industry Funds Management has changed its name to IFM Investors. The move comes shortly after the Australia-headquartered group consolidated its private equity and private assets divisions into one team and as it expands its presence in global markets, most recently with the addition of an office in Tokyo.
"Our shareholders had the foresight to establish a unique investor-owned model that is now a growing global company that has maintained its core purpose and values," said Brett Himbury, IFM's CEO, in a statement. "Our new name is symbolic of our heritage, uniqueness, caliber of talent and the sophistication of our investments. The inclusion of ‘Investors' in our name represents who we are and recognizes the importance of our investors."
The group has also introduced a new tagline - "One purpose. Shared prosperity" - intended to reflect its investor-focused approach and ability to provide clients with access to the largest collective investments.
There will be no change in IFM's investment strategy. The group is owned by 30 Australian superannuation funds that participate in funds and deals but it also raises capital from third-party institutions for investment in infrastructure, debt, equities and private capital.
Global assets under management stand at more than $25 billion. Of this, approximately $2.4 billion is deployed in private equity funds and co-investments. Earlier this month, IFM said it would create an integrated group - to be known as private capital - that will incorporate fund investments, co-investments and direct investments across the private markets sphere, as well as long-term assets operations.
The new platform will be headed by Phillip Bower, who currently leads the private assets division.
IFM has also announced plans to open an office in Tokyo in early 2014 as part of a broader effort to expand its global footprint that has also seen an office set up in Berlin and increased on-the-ground capacity in the UK and the US. One quarter of the group's staff is now based overseas.
The Tokyo office will be headed by Eddy Schipper, executive director of business development.
Himbury said the new office provides a strong hub for accessing Japan and Asia as a whole. "Initially, we will focus on our global infrastructure debt assets and then look to broaden this over time," he added. "Under Eddy's leadership, we will hire an initial team and also work closely with Japanese regulators and institutional investors to align our model with market needs and practices."
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