ESR Group Limited (ESR) is an Asia focused Real Estate services and investment company. It focuses on building and managing logistics properties such as warehouses and distribution centers. It is incorporated in the Cayman Islands but headquartered and listed in Hong Kong.
Due to its acquisition of ARA Asset Management in 2022, ESR has become one of the largest real estate investment management companies in the world.[2] In 2022, the company was ranked by PERE (under Private Equity International) as the 4th largest Private Equity Real Estate firm based on total fundraising over the most recent five-year period.[3]
ESR was formed in January 2016 as the result of a merger between e-Shang and the Redwood Group to form e-Shang Redwood which is better known as ESR.[4][5] e-Shang was a Shanghai-based logistics platform that was co-founded by Shen Jinchu and Sun Dongping along with private equity firm, Warburg Pincus.[4] The Redwood Group was a Singapore-based logistics platform founded in 2006 by Stuart Gibson and Charles de Portes who were former employees of Prologis.[6]
In November 2018, ESR acquired Sydney based real estate investment manager, Propertylink for $522 million leading to its delisting from the Australian Securities Exchange in 2019.[7]
In June 2019, ESR announced an initial public offering by listing on the Hong Kong Stock Exchange but postponed its plans due to poor market conditions.[8] On 1 November 2019, ESR completed its initial listing where it raised US$1.6 billion.[8]
In August 2021, ESR announced it would acquire Singaporean Real Estate management firm, ARA Asset Management for US$5.2 billion.[9][10] On 20 January 2022, ESR completed its acquisition of ARA Asset Management. This led to ESR having US$140 billion assets under management making it the third-largest listed real estate investment manager globally.[2] The acquisition also included LOGOS, an Australian logistics real estate firm which was a subsidiary of ARA Asset Management.[2]
US$811 million (FY 2021)
