Qualitas scores $550m mandate

Qualitas revealed it has secured its first commitment from a North American-based global institutional investor.

The $550 million mandate will be invested in commercial real estate private credit across construction loans, predevelopment land loans and investment loans.

The new mandate brings Qualitas' total funds under management to $8.6 billion representing around 42% growth from 30 June 2023.

Qualitas will co-invest up to $25 million over the life of the $50 million mandate, it said.

Qualitas managing director and co-founder Andrew Schwartz said the Australian commercial real estate private credit sector has garnered interest from international investors.

"The Australian commercial real estate private credit sector continues to attract allocations from global institutional investors and pleasingly Qualitas has achieved another record year of capital raising with net $2.5 billion raised since 30 June 2023," he said.

"We believe this new mandate, our first from an institutional investor based in North America, is a testament to our track record and increasing scale of our asset management platform, which enables us to deploy at scale for the right opportunities."

This new mandate comes after Qualitas announced in October last year it had received $530 million from an unnamed institutional investor into its Private Credit Income Fund.

Another unnamed institutional investor committed $750 million into the Qualitas Construction Debt Fund II in August 2023.

Qualitas is an ASX-listed Australian alternative real estate investment manager with around $8.6 billion in committed funds under management.

The group was founded 15 years ago, focusing on real estate private credit, opportunistic real estate private equity, income producing commercial real estate and build-to-rent residential for institutional, wholesale and retail clients.