Macquarie ventures into global property
The real estate arm of Macquarie Bank , Macquarie Property, has struck a deal with Ochtar Capital Partners to launch an investment company focused on private equity real estate investment in Europe and Asia.
Ochtar will be renamed Macquarie Global Property Advisers (MGPA) after Macquarie Property subscribed to a shareholding in Ochtar, a move chief executive James Quille says gives MGPA an excellent opportunity to grow its business through the support and global infrastructure of an institution like Macquarie Bank.
“Macquarie Property understands the unique market we operate in and has chosen our European and Asian investment strategy as one that best fits within its expanding global real estate platform,” Quille says.
Based in Bermuda, MGPA houses a team of more than 30 people out of Europe and Asia.
MGPA will advise Lend Lease Global Properties, which is fully invested in a diverse range of properties across Europe and Asia and has assets under management of US$1.6 billion.
In addition, MGPA will develop more equity real estate investment products and services for the Asian and European markets.
Ochtar was formed in February 2004 by a management buy out of Lend Lease Global Real Estate Advisors and its associated companies from Lend Lease Corporation.
Head of Macquarie property, Stephen Girdis, says the business is an excellent strategic fit with Macquarie’s global reach.
“We have pursued a strategy of exporting our investment management and investment banking expertise in niche property markets. The skills and capabilities of the Ochtar team will significantly enhance our international operations,” he says.
Recommended for you
Research by Morningstar has found fixed income funds are bucking a general trend around managed fund fee dispersion with a smaller fee dispersion compared to equity ones.
As investors seek to diversify their portfolios, the naming of bond labels has broadened out to include green, social and impact bonds, according to the annual RIAA report.
Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million.
Metrics Credit Partners is expanding its private credit fund range with a managed fund for retail investors following investor demand.
