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7/22/24
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Macquarie Asset Management plans to spin off the majority of its existing activities in Core / Core Plus real estate1 to enable the creation of Manova Partners, an independent real estate investment manager with $11.4 bil of assets under management. The new business will largely be comprised of the real estate activities Macquarie Asset Management acquired through its 2018 purchase of GLL Real Estate Partners.
Following the expansion of these activities as part of Macquarie Asset Management, a strategic review concluded that their next phase of growth would be best served by operating independently as a boutique real estate investment manager. Manova Partners will manage and source investments in properties and portfolios across the office, industrial, residential and retail sectors.
More than 150 staff are expected to transfer from Macquarie Asset Management into the new company at launch to manage a growing portfolio currently comprised of more than 170 properties and development projects across Europe, the Americas, and Asia-Pacific. Headquartered in Munich and with 17 locations around the world, Manova Partners will offer clients tailored solutions across the risk-return spectrum.
The launch of Manova Partners is expected in Q4 2024, following the satisfaction of customary closing conditions and regulatory approvals. Upon completion of the transaction, Manova Partners will be an independent company owned by employees.
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