Macquarie creates standalone real estate business Manova Partners
Macquarie Asset Management has announced plans to launch a standalone real estate investment management business called Manova Partners with €11.4bn (£9.61bn) in assets under management.
Manova will largely be comprised of the real estate activities Macquarie Asset Management acquired through its 2018 purchase of GLL Real Estate Partners.
It will manage and source investments in properties and portfolios across the office, industrial, residential and retail sectors across Europe, the Americas, and Asia-Pacific.
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More than 150 staff will transfer over to the new company from Macquarie. Manova will be headquartered in Munich, Germany, with 17 locations around the world.
It will be officially launched in the fourth quarter of this year.
“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,” said Christian Goebel and Florian Winkle, incoming co-chief executives at Manova Partners.
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“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.”
Macquarie Asset Management recently announced the close of its global opportunistic real estate fund with $1.9bn billion of equity to deploy across logistics, warehousing, self-storage, residential housing and sustainable offices.
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