EGFM launches new Australian property fund
EG Funds Management has launched a new closed-end unlisted fund to invest in Australian real estate. Yield Plus Infrastructure Fund No. 2 raised nearly A$400 million ($303 million) in equity at first close, with both domestic and offshore institutional investors.
The fund manager plans to target commercial, industrial and retail assets in Australian capital cities to create a portfolio valued at approximately A$750 million ($568 million).
The fund will concentrate on income-producing property assets near new and upgraded infrastructure, such as Sydney’s North West Rail Link or the Melbourne Metro Rail project, which will then be set for development at the suitable time in the market cycle.