What Aliro Group does

Aliro Group is an Australian privately-held property development, investment, and funds management business founded in 2017 by David Southon (co-founder of Charter Hall Group) and Daniel Wise (former Global Head of Property at Orica). The firm operates a multi-vehicle platform spanning sector-specific property funds — AGIV (core plus industrial), APIV (prime industrial), APREF (private equity real estate, now closed), AGIF (diversified wholesale), NBT #1 (build-to-rent via Novus subsidiary), and the IAIET joint venture with ISPT — collectively managing approximately $2.6 billion in current Gross Asset Value with a $4.7 billion GAV on completion and an $8.1 billion originated pipeline concentrated on Australia's eastern seaboard (NSW, VIC, QLD).

The firm makes money through a combination of management fees, performance fees, development management fees, and co-investment returns across its fund vehicles. Its primary customers are institutional investors (PSP Investments, CBRE Investment Management, ISPT) and private wholesale investors on the capital side, and blue-chip industrial, logistics, and manufacturing tenants (Woolworths, Australia Post, Mainfreight, Linfox, Tupperware, GM) on the tenancy side. Distribution is entirely enterprise/wholesale via direct institutional sales relationships — there is no public market listing or retail channel. Approximately 65% of transactions are sourced off-market, supported by leadership with an average 26 years of relevant experience and an industry-leading ESG profile (GRESB Global Sector Leader, 100/100 Development score).

Name

Aliro Group

Legal name

Aliro Group

Website

https://aliro.com.au

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Aliro Group is a Sydney-based private property development, investment and funds management firm operating sector-specific property funds for institutional and wholesale investors, with ~$2.6bn current GAV focused on Australian eastern seaboard industrial and build-to-rent assets.

Ownership category

akta.pro rank

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Funds Management Fees: Revenue generated from managing property funds including management fees, performance fees, and co-investment returns from institutional and private wholesale investors.
2. Development Profits: Returns generated from property development activities including development management fees and profit participation from delivering industrial, commercial, and build-to-rent projects.
3. Asset Management Returns: Income from active asset management of investment properties including rental income, capital appreciation, and value creation through repositioning and lease management.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Aliro Group is a property development, investment and funds management business that works with a diverse range of wholesale investors to establish, grow and actively manage predominantly sector-specific property funds. The company manages multiple investment vehicles focused on industrial, build-to-rent and diversified property strategies across the Australian eastern seaboard, including flagship core plus and prime industrial funds (AGIV, APIV), a private equity real estate fund (APREF), build-to-rent trusts (NBT #1, NBF), a diversified fund (AGIF), and the ISPT/Aliro Industrial Estates Trust partnership.

Product overview

Aliro Group is a property development, investment and funds management business operating a platform of sector-specific property funds. The core offerings include: AGIV (core plus industrial vehicle) and APIV (prime industrial vehicle) for institutional investors seeking industrial real estate exposure on Australia's eastern seaboard; APREF for opportunistic sector-agnostic investments; NBT #1 and NBF for build-to-rent residential development through its Novus subsidiary; AGIF for diversified private wholesale investment; and the ISPT partnership for large-scale industrial estate development. The company also directly manages a portfolio of industrial, mixed-use, and build-to-rent properties across NSW, Victoria, and Queensland.

Differentiator

Problem solved

Functional benefit

Brands

• Aliro Group Industrial Vehicle (AGIV): Core plus industrial vehicle established in 2018 to acquire and create investment-grade real estate across the Australian eastern seaboard with attractive total returns. Open-ended strategy with 12 assets and $1.6b current portfolio GAV.
• Aliro Prime Industrial Vehicle (APIV)
• Aliro Private Equity Real Estate Fund #1 (APREF)
• Aliro Group Investment Fund (AGIF)
• Novus Build to Rent Trust (NBT)

Products and services

• Aliro Group Industrial Vehicle (AGIV) Aliro's flagship core plus industrial vehicle that acquires and creates investment-grade industrial real estate across the Australian eastern seaboard. Targets attractive total returns through well-located assets in core markets with proximity to infrastructure and arterial road networks. Open-ended strategy with current portfolio GAV of $1.6bn (as at 31 December 2025).
• Aliro Prime Industrial Vehicle (APIV) Aliro's prime industrial vehicle established to acquire and manage a scaled portfolio of institutional grade industrial assets focused on Australian eastern seaboard markets. Income-focused investments driving cash-on-cash yield post stabilisation.
• Aliro Private Equity Real Estate Fund #1 (APREF) Sector-agnostic opportunistic real estate investment vehicle targeting returns in excess of 17% across Australia's eastern seaboard. Now closed for investment.
• Aliro Group Investment Fund (AGIF) Diversified property investment portfolio providing private wholesale investors access to institutional quality real estate with exposure to Industrial (62%) and Living (38%) sectors.
• Novus Build to Rent Feeder Fund (NBF) Provides private wholesale investors access to institutional grade build-to-rent real estate assets via investment in the Novus Build to Rent Trust, targeting gateway locations on Australia's eastern seaboard adjacent to transport and employment amenities.
• Novus Build to Rent Trust #1 (NBT #1) Novus' first build-to-rent fund focused on acquiring, designing, developing and operating a quality portfolio of build-to-rent assets across Australia's eastern seaboard, targeting 150-300 units per project with $1.0bn forecast GAV on completion.
• ISPT / Aliro Industrial Estates Trust (IAIET) Partnership established with ISPT to acquire, develop, lease and manage large-scale industrial land across Australian eastern seaboard. IAIET has $2.0bn FUM and $4.6bn pipeline with active value creation through land development and estate creation.

Quantifiable outcome

• 90/100 GRESB Standing Investments score, 100/100 GRESB Development score
• +2 more outcomes

Named customers14 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• ISPT (Industry Superannuation Property Trust)coreStrategic or Co-development Partner · 1 January 2018Partnership established in 2018 with ISPT to acquire, develop, lease and manage large-scale industrial land across Australian eastern seaboard. IAIET (ISPT/Aliro Industrial Estates Trust) has $2.0bn FUM and $4.6bn pipeline.
• NovuscoreStrategic or Co-development PartnerRelated entity specializing in build-to-rent development. Novus operates as Aliro's living sector vehicle with projects including Novus on Albert, Novus on Bowen, Novus on Harris, and Novus on Sturt. Novus is raising $1bn+ for Sydney Metro-adjacent build-to-rent projects.
• Texco ConstructionminorImplementation/ SI/ Consulting PartnerConstruction partner for Warehouse 2 at 48 Assembly Drive, Dandenong South. Texco Construction is delivering the 13,600sqm industrial facility targeting 5 Star Green Star rating.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Stockland: ASX-listed diversified property developer and fund manager with Australian industrial, logistics, and build-to-rent exposure. Comparable platform breadth including residential, and operates as both developer and fund manager.
• Goodman Group: Global industrial and logistics real estate specialist with major Australian exposure and $80B+ AUM. Operates the same industrial fund management model at much larger scale; sets the ceiling on what's achievable in this category in Australia.
• Dexus: ASX-listed Australian real estate fund manager and developer with industrial, office, and logistics exposure. Competes for institutional capital in the same Australian market, though with a more diversified sector mix.
• CBRE Investment Management: Global real assets investment manager and Aliro's cornerstone investor in AGIV. Operates multi-sector property funds at global scale, including direct industrial strategies that overlap with Aliro's mandate.
• GPT Group: ASX-listed diversified Australian property group with logistics, office, and retail portfolios. Operates institutional-grade fund vehicles similar to Aliro's, with a comparable LP base and eastern seaboard focus.

Emerging players

• LOGOS Property Group: Asia-Pacific logistics real estate specialist with significant Australian presence. Competes for institutional capital in the same industrial/logistics fund management space, though with a stronger development pipeline focus.
• ESR Group: Asia-Pacific focused logistics and industrial real estate platform. Comparable in its focus on institutional capital partnerships and fund management, but operates across a broader APAC geography and at significantly larger scale.

Direct peers

• Charter Hall Group: Australia's largest industrial and commercial property fund manager ($70B+ AUM), founded by Aliro co-founder David Southon. Directly comparable business model — multi-vehicle sector-specific real estate funds targeting institutional capital — and the most relevant reference for Aliro's growth trajectory.
• ISPT: Industry Superannuation Property Trust, one of Australia's largest institutional property investors. Aliro is an existing capital partner through the IAIET joint venture, and ISPT independently manages industrial, office, and retail portfolios — a direct comparable in scale and institutional LP base.
• Centuria Industrial REIT: ASX-listed pure-play Australian industrial REIT and fund manager. Direct competitor in the same core plus/prime industrial segment on the eastern seaboard, targeting similar institutional and wholesale investors with comparable infill logistics assets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/aliro-group/?originalSubdomain=au

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Aliro Group