Macquarie Asset Management has received A$1.1bn (€698m) of capital commitments from a group of investors for its first Asia-Pacific opportunistic real estate partnership.
With gearing, the partnership will have capacity to acquire a portfolio valued at more than A$2bn over the term of the closed-end fund.
The vehicle is mandated to invest across the entire Asia-Pacific region, but with a focus on the developed economies.
IPE Real Assets understands that the partnership plans to target sectors such as logistics and residential rental housing.
“The mandate of this partnership is much broader, though, and we will consider opportunities across all sectors, including those most impacted by COVID,” said a source.
The source told IPE that the partnership was “actively assessing acquisitions”.
On the period of deployment, the source said: “We see opportunities in the market to deploy the capital in a timely manner.”
Brett Robson, Macquarie Asset Management’s head of real estate, said COVID-19 had acted as a trend accelerator, creating opportunities for real estate investors.
“The market dislocation we’ve seen over the past 18 months has acted as an accelerator in many areas, creating opportunities across Asia-Pacific,” he said.
The partnership builds on Macquarie Asset Management’s investment experience in Asia-Pacific real estate. Its team had unlocked over US$12bn (€9.9bn) of real estate investment opportunities with its partners since 2010, Macquarie said in an announcement today.
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