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AFM raises $102m for first Australian diversified property fund
Fundraising - SEPTEMBER 20, 2019

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AFM raises $102m for first Australian diversified property fund

by Kali Persall

Assembly Funds Management (AFM) has closed its maiden fund, the Australian Diversified Property Fund (ADPF1) with A$150 million ($102 million) in capital commitments.

The fund will invest in value-add opportunities, core-plus acquisitions and real estate senior and junior debt across the residential, industrial, commercial, leisure and retail asset classes throughout Australia and New Zealand, according to APAC Real Estate.

AFM is looking to raise an additional A$150 million ($102 million) within the next two years from high-net-worth family offices and institutional investors in Australia and abroad. If it hits its A$300 million ($203 million) target, ADPF1 will have A$450 million ($305 million) in buying power.

The fund has identified several investment opportunities already.

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