Qualitas secures $491m mandate from global sovereign wealth fund
Qualitas Limited has secured commitments from a wholly owned subsidiary of ADIA for a new fully discretionary mandate to invest A$700 million ($491 million) in Australian commercial real estate (CRE) private credit opportunities on behalf of a new investment vehicle.
In addition, Qualitas has granted options to ADIA under which ADIA may acquire as many as 32,630,374 new ordinary shares in Qualitas, representing up to 9.99 percent of current issued equity on a fully diluted basis (Maximum Equity Interest). ADIA will be eligible for the Maximum Equity Interest if it commits further incremental investment mandates totaling A$1 billion ($700 million, bringing the total commitment to A$1.7 billion ($1.2 billion) through additional Qualitas mandates.
Under the terms of the agreement, Qualitas has secured commitments of up to A$700 million ($491 million) from an ADIA group entity for a new fully discretionary mandate. The mandate will be carried out through the newly create