Hillhouse Investment Management has agreed to acquire a majority stake in Barwon Investment Partners, deepening its exposure to Asia-Pacific real assets and healthcare-focused property investments.
Sydney-headquartered Barwon manages around A$3 billion in assets across healthcare real estate, real estate credit and private markets strategies for institutional and wholesale investors.
The firm will continue to operate as an Australian-led business following the transaction, with managing partners Tom Patrick, Jonathan Pullin and Peter Conners remaining in leadership roles.
The acquisition will support Barwon’s next phase of growth by expanding its ability to originate and scale investments across existing strategies, while also facilitating succession planning within the partnership.
Hillhouse said the investment would be made through Rava Partners, its real assets arm focused on infrastructure and property-related investments across Asia-Pacific.
Joseph Gagnon, co-head of Rava Partners, said the transaction aligns with Hillhouse’s strategy of backing specialist management teams in sectors with long-term structural growth opportunities.
“Australia is an important market within our Asia-Pacific portfolio, and Barwon provides a compelling opportunity to expand our footprint. We are focused on supporting the business to grow, while maintaining its investment philosophy, culture and alignment with clients, added Gagnon.
The transaction has received initial clearance from the Australian Competition and Consumer Commission and remains subject to approval from Australia’s Foreign Investment Review Board and other customary conditions.
