Macquarie RE invests in real estate private credit firm
Macquarie Real Estate Partners (MREP) has invested in IDA – a specialist real estate private credit and investment manager based in Australia.
MREP is a real estate fund managed by Macquarie Asset Management’s real estate division. It has a remit to invest and partner with specialist operators with the aim of creating a diversified portfolio targeting real estate sectors supported by strong structural macroeconomic drivers.
MREP’s investment in IDA will be used to support the growth of the firm. IDA’s investment focus is on private credit, high yield and land syndication and community creation investment strategies in the Australian real estate market.
Founded in 2010, IDA has been a capital partner in more than AUS$5bn (£2.49bn) of projects across more than 100 investments.
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IDA’s founding partners Adam Kaye, Robbie Fallon and Jeremy Urbach will retain majority ownership and continue to lead IDA’s day-to-day management.
“Macquarie Asset Management Real Estate has extensive experience investing in specialist operators like IDA,” said James Kemp, head of real estate Asia Pacific, Macquarie Asset Management.
“We focus on sectors that are supported by structural tailwinds and then find the best business or team in that sector to partner with.
“We look for management teams that can differentiate themselves in their market and our successful track record of investing in and growing these specialist operators allows us to be very selective.
“We believe IDA is well positioned to grow its platform and capitalise on the increasing demand for flexible development financing solutions while offering compelling investment opportunities for its clients. IDA’s long standing track record demonstrates the management team’s ability to price and manage risk through cycles.”
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“This strategic investment by MREP validates the quality and strength of our platform and will enable us to significantly enhance our offerings to our valued investment clients whilst also offering our borrower clients even greater flexibility, certainty and speed,” added Kaye, IDA’s founding partner and managing director.
“MREP’s investment in IDA is testament to the quality of our organisation and our people. We welcome the opportunity to partner with a fund managed by a leading global specialist asset manager to grow IDA’s capabilities in Australia.”
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