This article is from the Australian Property Journal archive
LISTED Australian alternative real estate investment manager Qualitas has netted an increase of $530 million to the activated commitment in the $1 billion Qualitas Private Income Credit Fund (QPICF) mandate.
The commitment brings total activated committed capital in QPICF to $750 million and increases Qualitas’ total committed funds under management $8.0 billion, including the QPICF active component only.
Commitment of the A$250 million balance in the QPICF mandate is subject to further approvals and conditions and there is no certainty that it will be activated in whole or in part.
Qualitas will co-invest up to A$30 million over the life of the $1 billion QPICF mandate.
Qualitas reaffirmed its FY24 guidance of net profit before tax to be between $37 million and $41 million, representing a circa 19% to 32% increase on FY23, and earnings per security between 8.75c and 9.70c.
A few weeks ago, Qualitas secured a second commitment of $700 million from a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), taking committed capital in the Qualitas Diversified Credit Investments to $1.45 billion, and follows ADIA’s initial $700 million investment a year ago.
In May, Qualitas secured a $1 billion mandate with a global institutional investor that will be directed towards Australian commercial real estate private credit opportunities.
Also this year, Qualitas and developer Tim Gurner expanded their GQ Multifamily build-to-rent platform to 3,650 apartments, unveiling new projects in Melbourne’s inner east, South Melbourne and Brisbane.
