A source said M&G’s investment is priced in line with the December 2018 valuations. : M&G Real Estate has acquired Australia’s sovereign wealth fund’s 50% stake in the Dexus Industrial Partnership for an undisclosed sum. Dexus and the Future Fund formed the partnership in 2014 to own a portfolio of industrial properties. The portfolio comprises an estate at Quarrywest in Greystanes in Sydney’s west and two Brisbane properties. A source told IPE Real Assets that Dexus had a value of AUD167m (€103.7m), as of 30 June 2018, on its book for its half share of the portfolio.