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.
Other News
Portfolio Construction Guide 2025: The lowdown on commercial real estate lending
In the latest Money Management Portfolio Construction Guide, Metrics Managing Partner Andrew Lockhart offers an insightful deep dive into the…
Meet the Investor: Managing Partner, Andrew Lockhart
In this episode of Meet the Investor on Stanford Brown Talks, Metrics Managing Partner Andrew Lockhart shares valuable insights into…
INSIGHTS
MCP Income Opportunities Trust (MOT) lists on ASX
Sydney, 29 April 2019: The Trust Company (RE Services) Limited (ABN 45 003 278 831) (Responsible Entity) is the responsible…
MCP Master Income Trust wins Lonsec Listed Fund Award
The award came a year after MXT was listed on the Australian Securities Exchange