MGPA, the private equity real estate investment advisory company, announced that it wound up its Global Fund I, an opportunistic $480 million (approx. 352.8 mln.) global fund which delivered strong returns to investors and culminated in the successful sale of $5 billion of assets. The Fund is one of the first of its time to be round-tripped within the timeline agreed at inception and to meet the return targets.
Established in 1999 by the existing senior management team, the vintage Fund invested on behalf of 15 global institutional investors across Australia, Europe, North America and the Middle East. The Fund made 21 investments across 12 countries throughout Asia and Europe including Japan, China, South Korea, Hong Kong, Belgium, France, Germany, Portugal, Spain and the UK, across all major property sectors, including office, retail, residential and industrial.
Through applying its principles of local knowledge and active asset management, MGPA generated more than a two times equity multiple and delivered a gross investment level IRR of 20% to the Fund's investors at a time when the real estate sector was suffering from the aftermath of the dotcom crash and SARS.
Source: Citigate Dewe Rogerson