Abu Dhabi Investment Authority (ADIA) has invested an additional A$300m (€187m) in Australian alternative real estate investment manager Qualitas.
The commitment is the third from a subsidiary of the ADIA to the Qualitas Diversified Credit Investments (QDCI) platform.
Qualitas said the commitment brought QDCI’s committed capital to A$1.67bn since ADIA’s initial investment in August 2022. Qualitas’s co-investment in QDCI remains at A$50m.
The latest commitment from ADIA will see A$220m activated immediately for deployment and the remaining A$80m will be activated at ADIA’s discretion.
The ASX-listed non-bank lender said the mandate continued to have a wide investment scope, focusing on the growing Australian commercial real estate private credit market and senior credit strategies.
Andrew Schwartz, group managing director and co-founder of Qualitas, said: “QDCI has performed well since inception and the pipeline continues to grow. This latest increase in commitment from ADIA demonstrates the depth of opportunities within the Australian CRE private credit market and further evidence Qualitas’ ability to attract, retain and grow our institutional investor base - a key differentiator in the current environment.”
Following its latest commitment, ADIA can now exercise options in respect of up to 29,367,337 shares.
Qualitas said it gives no assurance that all or any of the options that are now exercisable would be exercised. Any options not exercised will expire on 1 August 2024.
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