Macquarie launches Reit of Reits

Roadshows began last week for an S$1.049 billion ($680 million) IPO by Macquarie International Real Estate Fund. The DBS and Macquarie led deal employs the fund of fund concept to the Reit sector and complements the Australian bank's existing infrastructure fund of funds - Macquarie International Infrastructure Fund, which was floated in Singapore earlier this year.