The GP staker will support the Australian property investor's growth across distribution, product development, and institutionalization.
The transaction expands BlueFive's Sharia-compliant asset management presence into Southeast Asia.
The transaction, expected to close in Q4, will support the growth of AREP's investment and development platform, including its vertically integrated data center strategy.
The deal marks Reality Growth's second investment since launching earlier this year as a dedicated GP stakes platform.
The investment is part of a broader strategic partnership to establish a cross-border Shariah-compliant asset management platform focused on the GCC and Southeast Asia.
The sale will be at a premium to NAV and marks the GP stakes specialist's tenth realization since 2024.
Japan's largest trust bank also intends to explore a country-focused GP stakes strategy through its partnership with HPC.
The National Pension Service of Korea and Townsend Holdings have also increased their ownership in the Australian alternative asset manager.
The two managers have also entered a long-term strategic partnership under which Stable will manage and monitor the portfolio on behalf of the Australian firm.
The minority stake, acquired from Brookfield's private equity business, values the Australian alts manager at $2.1 billion.
