Invista Real Estate Investment Management, the London-listed property fund with £6.3bn of managed assets, sealed a deal over the weekend to expand into Asia.

The group, led by chief executive Duncan Owen, has entered a conditional contract to acquire the Asian real estate fund of Babcock & Brown, the collapsed Australian infrastructure investor. Owen said that the deal will be complete by the end of next month, but did not comment on the price of the transaction.

The Independent