Assembly Funds is trying to hit $350 million equity in its diversified property fund.
Sydney-based property group Assembly Funds Management is kicking off a $65 million capital raising, with money to head into its existing diversified property fund.
Having raised $285 million for its ADPF1 fund, Assembly’s gone back to new and existing investors seeking to gain a further $65 million to take its total equity to $350 million.Supplied The group told potential investors it had already made 13 investments from the fund with a 16 per cent forecast gross internal rate of return. Tipping into the raising buys a stake in the existing portfolio, most of which is in logistics and alternatives.Assembly was set up in 2019 by former Westfield executive Michael Gutman, in conjunction with Lowy Family Group and Alceon Group.
co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.
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