Macquarie Real Estate Partners (MREP) has bought into IDA, an Australian specialist real estate private credit and investment manager, for an undisclosed amount.
The investment by MREP will provide additional funding to support the continued growth of IDA’s specialist real estate private credit and investment management platform, said MREP.
IDA said it remained focused on delivering attractive risk-adjusted returns for its clients across private credit, high yield and land syndication and community creation investment strategies, leveraging the growing demand for Australian real estate development financing.
IDA’s founding partners Adam Kaye, Robbie Fallon and Jeremy Urbach will retain majority ownership and continue to lead IDA’s day-to-day management.
James Kemp, head of real estate Asia-Pacific, Macquarie Asset Management, said: MREP had “extensive experience investing in specialist operators, like IDA. We focus on sectors that are supported by structural tailwinds and then find the best business or team in that sector to partner with.
“We look for management teams that can differentiate themselves in their market and our successful track record of investing in and growing these specialist operators allows us to be very selective.”
Kemp said IDA was well positioned to grow its platform and capitalise on the increasing demand for flexible development financing solutions while offering compelling investment opportunities for its clients.
Founded in 2010, IDA specialises in mid-market real estate private credit and financing and has been a capital partner in over $A5bn (€35bn) of projects across more than 100 investments.
Adam Kaye, founding partner and managing director, said: “This strategic investment by MREP will enable us to significantly enhance our offerings to investment clients whilst also offering our borrower clients even greater flexibility, certainty and speed.”
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