AMP Capital announces key appointment in real estate debt

AMP Capital has appointed Rebecca Smith as head of real estate debt, Australia, in a new role to establish its real estate debt capability in the region.

Smith joins AMP Capital from Australia’s sovereign wealth fund, Future Fund, where she held the role of director of property. Smith’s previous roles with Future Fund, PAG, NM Rothschild & Sons, Allco Finance Group and CBRE (where she started her career in valuations) have seen her work in markets across the United States, Europe and Australia.

The commercial real estate debt market in Australia has grown substantially in the past five years to over A$300 billion ($212 billion), with traditional major bank lenders forecast to see their market share decline over the next decade. It’s also becoming more favorable with investors as a relatively safe means of exposure to real estate, particularly with its focus on income in a low interest rate environment.