GLOBAL - Indirex has launched a new online community for global unlisted real estate and plans to expand its offering outside Europe in the coming months.

The newly launched website - which was developed by Colin Barber, founder of Propex, and Gary McNamara, former head of derivatives at DTZ - will give investors, fund managers, consultants, advisers and brokers access to global unlisted fund data, as well as analysis of primary capital raising.

Indirex acts purely as a data and information portal for UK and continental European unlisted real estate funds.

It provides a single point for locating generic information about funds, alongside performance data.

In addition, there are secure data rooms, not open to all, that allow buyers and sellers to do due diligence on funds and get the relevant documentation, rather than having to go to the fund manager.

In a previous interview, McNamara said: "We are making sure people can get in contact with each other using the system, as opposed to us doing the introduction or broking."

Following a six-month seeding programme, the prototype website has attracted users from life insurance companies, sovereign wealth funds and other market participants such as fund managers, lawyers, consultants, accountants and tax advisers.

John Cartwright, chief executive at AREF, said: "We welcome the Indirex initiative, which supports AREF's ongoing commitment to transparency and efficiency within the industry."

Ashley Marks, associate director at Jones Lang LaSalle Corporate Finance, added: "We are delighted to be part of the rapidly expanding community of Indirex, where we can together greatly improve the secondary market's liquidity and make it more accessible to all investors."

The site provides data for around 2,000 funds globally, with data being provided by website data partner IPD.

Indirex.com plans to embed its offering initially in the UK market with a view to expanding into Europe, Asia and the Americas during the course of 2012.

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