Macquarie Bank has expanded its alternative investment products on two separate fronts, launching both an Asia-heavy real estate fund as well as starting a global hedge fund incubator programme in Australia.
Macquarie Global Property Advisors, a $3.1 billion, Bermuda-based private equity group owned by senior management and Macquarie Bank's property investment banking division, closed the Macquarie Global Property Fund II after raising an additional $1.3 billion, well in excess of its $750 million target. The new fund will have over $5 billion in buying power and has already closed on two investments in Tokyo worth $219 million.
The fund has both an Asian and a European component,...
