Preqin’s data shows there are 63 private equity real estate investors located in Australasia, with a combined USD 57 billion allocated to the real estate asset class.
The largest of these investors according to assets under management is Future Fund. Established in 2006 by the Australian government, the USD 80 billion sovereign wealth fund has an allocation of nearly 6% to real estate. It targets core, opportunistic, distressed and debt PERE funds. Future Fund is a global investor and will consider investing in Australia, Asia Pacific, Europe, the Americas and emerging markets.
QIC, the USD 59 billion asset manager, is the next largest Australasian investor targeting private equity real estate. It allocates to the asset class via its subsidiary, QIC Real Estate. Of its USD 9.9 billion allocation to real estate, 82% is invested in domestic properties. QIC is interested in value added real estate funds that focus on North America and West Europe.
With assets under management of USD 44.9 billion, Perpetual Investments ranks as the third-largest Australasian investor in private equity real estate funds. The Sydney-based asset manager has a 15% allocation to real estate, with 33% of that allocated to private equity real estate funds. Perpetual Investments prefers domestic value added, distressed and debt type funds and typically invests between USD 10 million and USD 22 million in each fund.