Macquarie to create independent real estate investment manager
Macquarie Asset Management has announced plans to create an independent real estate investment manager with €11.4bn (£9.6bn) of assets under management.
Manova Partners will largely be comprised of real estate activities that Macquarie acquired following its purchase of GLL Real Estate Partners in 2018.
Macquarie said that following the expansion of these activities, a strategic review concluded that their next phase of growth would be best served as an independent operation.
Headquartered in Munich, Manova Partners will manage and source investments in properties and portfolios across the office, industrial, residential and retail sectors.
Over 150 staff are expected to transfer from Macquarie Asset Management into the new company to manage a growing portfolio currently comprised more than 170 properties and development projects across Europe, the Americas, and Asia-Pacific.
Christian Goebel and Florian Winkle, incoming co-chief executive officers at Manova Partners, said: “Our clients value the research-led, boots-on-the-ground philosophy that our team has refined over more than two decades, including over the last six successful years as part of Macquarie Asset Management. Launching Manova Partners as an independent and specialised real estate player will allow us to further develop this offering, identifying differentiated opportunities in established and growing markets. It will also ensure we remain agile and responsive to our clients’ evolving needs.”
Manova Partners is expected to launch in the fourth quarter of 2024 and will be an independent company owned by employees.