Macquarie Asset Management is set to create a standalone real estate investment company called Manova Partners, managing €11.4 bn in assets, primarily focusing on core and core plus real estate properties.
The foundation of Manova Partners will be the real estate assets acquired by Macquarie Asset Management through the 2018 purchase of GLL Real Estate Partners. After expanding these operations, a strategic review determined that an independent platform would best position the business for future growth.
Headquartered in Munich and with a presence in 17 locations globally, Manova Partners will invest in office, industrial, residential, and retail properties worldwide. Over 150 employees will transition from Macquarie Asset Management to the new company, which will oversee a portfolio of more than 170 properties and development projects in Europe, the Americas, and Asia-Pacific.
Christian Goebel and Florian Winkle, incoming co-CEOs at Manova Partners, said: ‘Our clients value the research-led, boots-on-the-ground philosophy that our team has refined over more than two decades, including over the last six successful years as part of Macquarie Asset Management. Launching Manova Partners as an independent and specialised real estate player will allow us to further develop this offering, identifying differentiated opportunities in established and growing markets. It will also ensure we remain agile and responsive to our clients’ evolving needs.’
Manova Partners is slated to become an independent, employee-owned company in the fourth quarter of 2024. The launch is contingent upon meeting standard closing requirements and obtaining necessary regulatory clearances.
Macquarie Asset Management recently secured $1.9 bn (€2.2 bn) in investments for its global real estate fund that will target warehouses, self-storage facilities, residential housing, and environmentally friendly office spaces.
