Assembly Funds asks clients for another $65m

Source: Financial Review

Anthony Macdonald, Sarah Thompson and Kanika Sood

Sydney-based property group Assembly Funds Management is kicking off a $65 million capital raising, with money to head into its existing diversified property fund.

Having raised $285 million for its ADPF1 fund, Assembly’s gone back to new and existing investors seeking to gain a further $65 million to take its total equity to $350 million.


Michael Gutman, founder of Assembly Funds Management has restocked the firm’s acquisition warchest.  Supplied


The group told potential investors it had already made 13 investments from the fund with a 16 per cent forecast gross internal rate of return.

Tipping into the raising buys a stake in the existing portfolio, most of which is in logistics and alternatives.

It wants to hit a final close by June.

Assembly was set up in 2019 by former Westfield executive Michael Gutman, in conjunction with Lowy Family Group and Alceon Group.