Macquarie Asset Management has successfully raised $A1.1 billion of equity commitments from institutional investors for Asia-Pacific opportunistic real estate, with a mandate to invest in developed markets across the region (the Partnership).
Reaching its hard cap, the Partnership has a flexible mandate to invest in specialist platforms, direct real estate and pursue opportunities arising from recent market dislocation.
The Partnership builds on Macquarie Asset Management's deep investment experience in Asia-Pacific real estate, having unlocked over $US12 billion of real estate investment opportunities with its partners since 2010, including investing across 15 principal investments. This has seen Macquarie Asset Management invest in specialist operators in the region, with previous investments including LOGOS Property Group's logistics platform, Iglu's student accommodation platform and Greystar Asia Pacific's purpose-built rental housing business.
Macquarie Asset Management's Head of Real Estate, Brett Robson, said that the impacts of COVID-19 have acted as a trend accelerator, creating opportunities for real estate investors.
"Global megatrends including shifting demographics, digitalisation and urbanisation are driving the need for real estate development and investment. The market dislocation we've seen over the past 18 months has acted as an accelerator in many areas, creating opportunities across Asia-Pacific."
Macquarie Asset Management's Head of Asia-Pacific Real Estate, Jelte Bakker, said that closing the raising is a key milestone for the business.
"We have a long history of investing in opportunistic real estate in the region and look forward to putting this experience to work for our clients through the Partnership."
Macquarie Asset Management's approach to real estate investment is underpinned by a combination of top-down and bottom-up data-driven analysis with deep market knowledge gained over nearly 35 years of investment management, asset management and direct investment. The team consists of more than 200 real estate professionals located in 28 cities across 19 countries globally.
