Pindan Capital opens Sydney, China offices

Pindan Capital has opened new offices in Shanghai and Sydney as it seeks to diversity its investment opportunities outside of Western Australia.

The funds management and development arm of construction group Pindan’s general manager, Scott Davison, said the strong fundamentals of the NSW property market made the Sydney move a logical step for the company.

Mr Davison said the majority of Pindan’s operations would remain at its Belmont headquarters, to be supplemented by the new offices.

The Sydney office, which opened mid-January, is headed up by eastern states general manager Scott Staniforth, who joined Pindan Capital in 2011.

“Scott has the knowledge and experience to help source and secure sound local development opportunities and core fund assets throughout Austrlaia, including raising equity for investment into our various property funds,’’ Mr Davison said.

At the same time, Steven Pringle will be relocated from the Perth office to head up Pindan Capital’s permanent Chinese outpost as China regional manager.

Mr Davison said Pindan had been active in China since 2006, while Pindan Capital had increased its focus on raising equity from Chinese investors in the past three years.

“Over 25 per cent of the external equity investment currently raised by Pindan Capital is derived from overseas, with a significant portion of this from our Chinese investors,” Mr Davison said.

“As we have already spent a lot of time in China over the recent years, establishing a permanent office was the next step to support the growth and further promotion of Pindan Capital’s Australian operations to the Chinese investment market.”