7 July 2025
Barings acquires majority stake in Swift Storage with c.AUD200m equity commitment
Barings, one of the world’s leading investment managers, has acquired a majority stake in Swift Storage (“Swift”), a pioneering Australian developer, owner, and operator of specialised high-tech contactless self-storage centres. The acquisition includes majority ownership in both the existing portfolio of assets (PropCo) and the operating business (OpCo). Barings has seeded ~A$200m of balance sheet equity with a vision to grow Swift into a nationwide, household-name platform.
Founded in 2022 by USS Funds Management (“USSFM”), Swift has pioneered a technology-enabled operating model, focused on contactless, drive up, storage unit estates with zero on-site staffing requirements. The property portfolio comprises 15 purpose built self-storage centres, and a secured pipeline of new self-storage developments across Queensland.
This acquisition marks a major milestone in Barings’ strategic entry into the growing self-storage sector in Australia and represents an extension of its established private equity real estate platform which currently includes investments in seniors living and operating airports. It also demonstrates Barings’ continued expansion in the Australian real estate market, having acquired over A$2 billion of multi-sector real estate over the past 18 months.
Tamara Williams, Senior Director, Private Equity Real Estate at Barings said “Self-storage has proven to be a resilient asset class in Australia, and Barings believes there are significant tailwinds and untapped potential in the future. What attracted Barings to this opportunity is the calibre of our Swift operating partners – they have a proven track record and have pioneered an efficient operating model for the industry. Together with our in-house investment management focus and development expertise, we are well positioned to execute on our vision for the platform.”
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