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Overview

Following the completion of the $23bn sale of Westfield Corporation in 2018, Michael Gutman OBE former Director, President and COO of Westfield formed a real estate platform with the combined support of the Lowy family (LFG) and Alceon.

Assembly Funds Management (AFM) is real estate funds management platform established in 2019 by Michael Gutman, the Lowy Family Group and Alceon.

AFM’s inaugural offering, Australian Diversified Property Fund 1 (ADPF1), is an opportunistic, multi-sector real estate fund focused on a diversified portfolio of assets in Australia and New Zealand.

ADPF1 invests in a mix of value add and core-plus strategies, as well as senior and mezzanine debt. The Fund has performed strongly since its 2019 inception, and is currently 70% drawn across 12 opportunities which are on track to outperform the Fund’s objectives with a forecast 16% gross return.

ADPF1’s current investment portfolio includes an attractive mix of Logistics, Residential, Alternatives, Mixed Use and Large Format Retail assets.

To date, the Fund has raised c.$285m in equity commitments across three oversubscribed raisings. Following a strong period of deployment, ADPF1 is has re-opened for a final round of investment from new and existing investors targeting a final fund size of $350m. This will be the final opportunity to invest in ADPF1.

Currently, the Fund has gross assets under management of >$325m

>$325

million

Gross assets under management

$283

million

Of commitments raised
by October 2021

Alceon is a specialist advisory, investment and capital solutions partnership, with offices in Sydney, Melbourne, Brisbane and Perth.

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Lowy Family Group

LFG is the private investment business and family office of the Lowy Family Group.

It’s a global direct investment business with a long-term focus on listed equities, real estate and technology. LFG collaborates with a select number of external firms to augment their direct investment activities. The Principals of LFG are Sir Frank Lowy, David Lowy, Peter Lowy and Steven Lowy.