Global Legal Chronicle – Assembly Funds Management’s Australian Diversified Property Fund 1 Establishment

Ashurst advised Assembly Funds Management on the establishment of Australian Diversified Property Fund 1, an unlisted closed-ended real estate fund.

AFM is a management platform recently established by former Westfield COO Michael Gutman, the Alceon Group and The Lowy Family Group. AFM acts as investment manager to ADPF1, which had A$150 million capital commitments at the initial closing. AFM anticipates raising total capital commitments of approximately A$350 million.

ADPF1 has a broad investment mandate with a focus on pursuing a mix of debt, value add and core-plus strategies in office, retail, industrial and logistics, leisure and residential asset classes in Australia and New Zealand.

The Ashurst team was led by partner Anton Harris (Picture) supported by senior associate Jonathan Scott, with further support from partners Barbara Phair, Sanjay Wavde, Jennie Mansfield and Anita Cade.

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