In 2004 Transfield Holdings bought a 50% share in Charter Hall, a company that undertakes property funds management, development management,property investment banking and property management.
In 2005 with Transfield’s backing Charter Hall assembled a $240million property portfolio, an independent board of directors and listed Charter Hall on the Australian Stock Exchange.
Transfield invested further equity in the IPO and appointed 2 directors to the board.
At listing Charter Hall had approximately 30 staff and $1billion under management. Charter Hall has grown to 260 staff and over $10billion of property under management in 2011.
Transfield sold its investment in 2007.