TechInvest News

Qualitas signs $550m private credit mandate with US backer

Written by Colin Hay | Jun 27, 2024 1:27:01 AM

Australian alternative real estate investment manager Qualitas Limited (ASX: QAL) has secured its first commitment from a North American-based global institutional investor.

An amount of $550 million is to be invested in commercial real estate (CRE) private credit across construction loans, predevelopment land loans and investment loans.

The new mandate brings Qualitas’ total funds under management (FUM) to $8.6 billion representing around 42% FUM growth from 30 June 2023.

A significant proportion of Qualitas’ FUM around 81% is invested in private credit and around 83% is invested on behalf of institutional investors.

Andrew Schwartz, Group Managing Director and Co-Founder of Qualitas, said the firm will co-invest up to $25 million over the life of the $550 million mandate.

“The Australian CRE private credit sector continues to attract allocations from global institutional investors and pleasingly Qualitas has achieved another record year of capital raising with net $2.5 billion raised since 30 June 2023,” Mr Schwartz said.

“We believe this new mandate, our first from an institutional investor based in North America, is a testament to our track record and increasing scale of our asset management platform, which enables us to deploy at scale for the right investment opportunities.”