Macquarie advances on alternative investment fronts

It closes a real estate fund and begins a hedge fund incubator programme.

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...

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