Aware Super completed the acquisition of a 31.3% stake in European Outlet Mall Venture from Allianz.

Aware Super, an Australian industry superannuation fund, completed the acquisition of a 31.3% stake in European Outlet Mall Venture, a platform that owns and operates four outlet centres across Europe, from Allianz, a multinational financial services company. Financial terms were not disclosed. "The outlet retail model has proven resilient through economic cycles, with the value proposition becoming increasingly attractive during periods of consumer uncertainty. European outlet malls in particular represent a defensive retail segment with compelling fundamentals and track record of strong operational performance and resilience through market cycles," Mathieu Elshout, Aware Super Head of European Property.