Industry Super-Owned IFM to Invest $50 Million into Smart Urban Properties Australia

Industry super fund-owned global funds manager IFM Investors has today entered into binding transaction documentation to invest $50 million in Smart Urban Properties Australia (SUPA), Australia’s first unified services provider of converged utilities and communications infrastructure.

With A$217 billion in funds under management, as at 31 March 2023, IFM’s investment also brings a wealth of networks, relationships and specialist skill sets, which will be leveraged to support SUPA’s growth strategy.

SUPA Group CEO Geoff Horth says the partnership with IFM will allow SUPA to change the game for property investors, developers, and owners, improving the lifestyles of the communities it serves by developing smarter, safer, more sustainable urban properties.

“We are delighted to be partnering with IFM on this next stage of our exciting growth journey –  it will provide growth capital to deliver our existing pipeline of projects, while allowing us to make further investments to increase our market share.  Over several months working with the IFM team, it has become clear that this opportunity is in the best long-term interests of the company. IFM’s relationships and networks, our alignment on strategy and ambition and our shared values provide the ideal platform for us to deliver outstanding returns for all SUPA investors,” said SUPA Group CEO Geoff Horth.  

“Our investment in SUPA is aligned with IFM’s private equity strategy of investing in companies that we assess as having a proven, resilient business model and an actionable growth agenda, which have the potential to deliver returns to our investors and their beneficiaries, which include millions of working people. We are delighted to be partnering with SUPA on their mission to improve the lifestyles of people living and working in apartment complexes and other multi-dwelling properties all across Australia,” said IFM Executive Director Jeremy Larkin.

The SUPA Board and management team unanimously supports the investment by IFM, with the transaction expected to complete in August 2023 subject to SUPA shareholder approval.

At completion, it is intended that Daniela Wegner and Jeremy Larkin from IFM will join the board of SUPA.

Wilsons Advisory acted as financial adviser to SUPA in relation to the transaction.

To learn more about IFM Investors, visit:

Find out more about SUPA at

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