QIC is providing a NZ$76.3m (€43.5m) loan to develop an industrial real estate project to support New Zealand’s growing Auckland International Airport region.
QIC Multi-Sector Private Debt, part of QIC’s private debt business, made the investment, representing half the real estate debt deal as part of a small group of lenders.
The manager said the loan would facilitate a crucial pathway to addressing New Zealand’s shortage of warehousing and logistics real estate and funding for a land subdivision project of a prime 30-hectare light-industry zoned property.
This strategic lending move aimed to align with the market demands and positioned the borrower for success in the dynamic New Zealand real estate landscape, said Simon La Greca, QIC’s newly commenced head of private debt.
La Greca was partner and head of infrastructure debt Asia at Ares Management and was a founding member of the AMP Capital Infrastructure Debt team, before joining QIC.
QIC Private Debt offers institutional investors exposure to diversified debt investments across infrastructure (within the OECD) and corporate, asset-backed securities and real estate (in Australia and New Zealand) sectors.
QIC Private Debt now has more than US$1bn (€914m) of assets under management and committed capital, split across Multi-Sector Private Debt (US$600m) and Private Debt Infrastructure (US$400m) offerings.
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