Assembly fund aims to raise additional $66m for second property fund

Assembly Funds Management has plans to raise A$100 million ($66 million) for its Australian Diversified Property Fund 2 (ADPF2), reported media outlets.

The fund held a first close in 2023, raising more than A$155 million ($102 million)

“The investment strategy for the ADPF series has proven to be attractive to investors due to its ability to invest across sectors either in debt or equity. In particular, it provides the flexibility to weight towards the sectors where we see the greatest operational tailwinds,” said Michael Gutman, AFM founder and CEO, in a Financial Standard article. “We would expect to see a rebalancing from debt to more equity transactions as the interest rate reduction cycle progresses, improving the risk return profile for equity over debt.”