Rival fund manager Mirvac is also targeting investors in AMP’s office fund, but Dexus chief executive Darren Steinberg said he was “reasonably confident” investors on the platform would make the move to Dexus.

“I’m comfortable that with the existing teams, with the platform stability we give them, and the focus on investor performance, that we will keep a lot of the capital that’s there,” he said.

The fund’s infrastructure assets such as Melbourne and Launceston airports will complement Dexus’ recent purchase of Perth’s Jandakot airport. Expanding into infrastructure is the “logical next step” for Dexus’ funds management business, he said.

AMP chief executive Alexis George said the deal would create real value for shareholders. “In Dexus we have found a strong owner for the real estate and domestic infrastructure equity businesses, which will add significant value through their strong track record and experience in real estate and asset management. Their depth of talent will strongly complement our specialist teams.”

A separate process is underway for the sale of AMP’s offshore infrastructure equity business which is attracting interest from international players like Apollo Global Management and Digitalbridge.

“Discussions with interested parties on the sale of our international infrastructure equity business continue. Any decisions will be driven by our focus on delivering value for shareholders, leveraging the expertise of our investment teams and working closely with our clients to align an outcome that best supports them,” George said.

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