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Latest News

Metrics Real Estate Multi-Strategy Fund IPO (ASX:MRE) exceeds target raise

Metrics Credit Partners (Metrics) has announced the official closing of the initial public offering (IPO) for stapled units in the Metrics Real Estate Multi-Strategy Fund (1)(ASX: MRE), raising in excess of the $300 million target.

Metrics Managing Partner, Andrew Lockhart, commented on the IPO’s success, “The overwhelming response to the Metrics Real Estate Multi-Strategy Fund highlights the strong investor demand for diversified commercial real estate (CRE) investments and reinforces the market’s confidence in our investment approach. We are very fortunate to have received such strong investor support for this new fund and we will work towards delivering on the investment objectives for our investors.

“The Metrics Real Estate Multi-Strategy Fund, our third fund listed on the ASX, offers investors unique access to both private CRE debt and equity investments, typically out of reach for most investors.”

The Metrics Real Estate Multi-Strategy Fund is set to be quoted on the ASX on 16 October 2024.

The Fund targets a total return of 10%-12% p.a. net of all costs through the economic cycle(2), and aims to provide investors with exposure to a diversified portfolio of private markets CRE investments across the entire capital structure, from lower risk senior secured first registered mortgage debt to higher risk and potentially higher returning equity investments.(3)

Zenith Investment Partners(4) and Lonsec Research(5) have both initiated research coverage and awarded the Fund a ‘Recommended’ rating, reflecting the strong prospects and investment potential of the fund.

Completion of the new fund launch and IPO follows a successful week for Metrics after being crowned Alternative Investment Manager of the Year at The Australian Alternative Investment Awards. Metrics was also awarded Best Alternative Fixed Income & Credit Fund (Metrics Direct Income Fund), and Best Listed Alternative Investment Product (Metrics Master Income Trust (ASX: MXT)).

“Metrics’ success reflects strong investor confidence in our private market investment strategies which are backed by a highly experienced team of investment professionals,” Mr Lockhart said.

Metrics currently manages in excess of $20 billion in private markets debt and equity assets, reinforcing its position as a leader in the Australian private investments market.

Further details on the Fund can be found at www.metrics.com.au/mre.

8 October 2024
1 The Fund is a stapled structure consisting of the Metrics Real Estate Multi-Strategy Passive Trust 679 413 293 and the Metrics Real Estate Multi-Strategy Active Trust ARSN 679 413 695.
2 This is a target only and may not be achieved. The actual return of the Fund may be lower than the Target Total Return. All investments, including an investment in the Fund, are subject to risk, including capital loss.
3 This is an objective only and may not be achieved. In particular, there is no guarantee that the Fund will be successful in delivering the Target Total Return. An investment in the Fund is subject to risk, including capital loss.
4 Zenith Investment Partners, Product Assessment Report dated 3 September 2024.
5 Lonsec Research, Product Assessment Report dated 9 September 2024.
This communication is issued by The Trust Company (RE Services) Limited ABN 45 003 278 831 AFSL 235 150 (Perpetual) as responsible entity of the Metrics Real Estate Multi-Strategy Fund, a stapled structure consisting of the Metrics Real Estate Multi-Strategy Passive Trust ARSN 679 413 293 (Passive Trust) and the Metrics Real Estate Multi-Strategy Active Trust ARSN 679 413 695 (Active Trust) (Fund). Metrics Credit Partners Pty Ltd ABN 27 150 646 996 AFSL 416 146 (Metrics) is the investment manager. Perpetual is the issuer of units in each of the Passive Trust and Active Trust.
The information provided in this communication is of a general nature only and has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision in respect of the Fund, you should consider the current Product Disclosure Statement and Target Market Determination, available at www.metrics.com.au/mre, and assess whether the Fund is appropriate given your objectives, financial situation or needs. If you require advice that takes into account your personal circumstances, you should consult a licensed or authorised financial adviser.
Neither Perpetual nor Metrics guarantees repayment of capital or any particular rate of return from the Fund. Neither Perpetual nor Metrics gives any representation or warranty as to the currency, reliability, completeness or accuracy of the information contained in this communication. All opinions and estimates included in this communication constitute judgments of Metrics as at the date of creation and are subject to change without notice. Past performance is not a reliable indicator of future performance.
The Zenith Investment Partners (Zenith) Australian Financial Services License No. 226872 rating (assigned September 2024) referred to in this document is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at https://www.zenithpartners.com.au/our-solutions/investment-research/regulatory-guidelines/
The rating issued 09/2024 is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec). Ratings are general advice only, and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec assumes no obligation to update. Lonsec uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. © 2024 Lonsec. All rights reserved.