Aberdeen Group has reached an agreement to increase its interest in logistics manager Tritax Management to 100% in 2029.
Following Aberdeen’s initial acquisition of a 60% interest in Tritax in 2022, the firm will increase its stake to circa 80% in April 2026 and to 100% in 2029.
Since Aberdeen’s initial investment, Tritax has grown its assets under management (AUM) from £5.1bn to approximately £9bn, with revenue increasing at circa 13% per annum over the past four years.
To support future growth and the smooth succession of the business, Tritax will promote Hana Beard, Mehdi Bourassi, Ian Brown, Chase French, Nick Ireland, Tim O’Reilly and Henry Stratton to partner level from April next year.
Jason Windsor, CEO of Aberdeen Group, said: “Aberdeen’s increased investment in Tritax extends our relationship at a time when Tritax continues to grow its AUM, with the team who have done such an impressive job managing Tritax Big Box REIT and the growing portfolio of private market mandates, remaining on board until at least 2029. The long-term potential of the logistics and digital infrastructure sector is clear and this deal secures operational continuity that positions us to capitalise on the transformative impact of AI on real estate.”
Anne Breen, global head of real estate at Aberdeen Investments added: “Tritax has been an excellent addition to Aberdeen’s extensive real estate capabilities, so I am delighted this agreement will see us continuing to work closely with the team. Our additional investment enhances Aberdeen’s scale as a specialist real estate manager, offering the potential to diversify and grow future earnings through direct access to the dynamic, fast growing supply chain sector.”
Henry Franklin, chief operating officer at Tritax Management, said: “Resilient supply chain infrastructure is critical to keeping the UK economy moving. Aberdeen’s latest commitment marks an exciting next step for our business, enabling us to continue to capitalise on the compelling structural drivers in our sector with the long-term support of a leading global asset manager, whilst maintaining Tritax’s agile, entrepreneurial approach. I am delighted to welcome seven new partners from across the business, as we bring forward the next generation of talent.”
