Barwon Investment Partners, the AUD 225 million Australian asset manager which only invests in alternatives, will continue to add new real estate investments to its portfolio in 2011. Barwon gains exposure to the asset class through both direct and fund investments. It is interested in funds that invest in developed Asia-Pacific markets such as Australia, New Zealand, Hong Kong and Singapore. Barwon Investment Partners prefers core-plus, value added and opportunistic funds that invest in a diverse array of property types such office, retail and industrial. It is also interested in co-investing alongside fund managers. The asset manager does not have a specific target allocation to the real estate asset class, due to its preference of investing according to market conditions.