QIC has reached financial close on a NZ$76.3m (~A$71.2m) real estate debt deal, facilitating a crucial pathway to addressing New Zealand’s shortage of warehousing and logistics real estate and funding for a strategic land subdivision project.
The prime ~30ha light-industry zoned property is expected to become a critical piece of community infrastructure to support New Zealand’s growing Auckland International Airport region.
QIC Multi-Sector Private Debt is providing 50% of the funding, as one of a small group of lenders for the total NZ$76.3m facility.
This strategic lending move aims to align with the market demands and positions the borrower for success in the dynamic New Zealand real estate landscape.
QIC Private Debt now has over US$1bn of assets under management (AUM) and committed capital, split across Multi-Sector Private Debt (~US$600m) and Private Debt Infrastructure (~US$400m) offerings.
The QIC Private Debt team has closed nine deals to date, across Australia (3), United States (2), United Kingdom (1), Europe (2) and New Zealand (1).
These nine deals are diverse in nature, spanning the sectors of consumer discretionary, healthcare, education, real estate, energy (renewables), transport and logistics (cold storage), alternative fuelling and digital infrastructure.
QIC’s newly commenced Head of Private Debt, Simon La Greca, said he is pleased to be joining an already successful team.
“The team have done an outstanding job since the launch of QIC’s Private Debt capability,” Mr La Greca said, “and I’m looking forward to working closely with them to further build on this momentum.”
“Their demonstrated ability to close such unique deals, diversified across a variety of sectors in the current market conditions, is a testament to their determination, skills and deep relationship networks.”
Mr La Greca, a highly respected investor with strong industry relationships, brings a wealth of experience to the role. Previously, he served as Partner and Head of Infrastructure Debt Asia at Ares Management and was a founding member of the AMP Capital Infrastructure Debt team.
“This role provides a compelling opportunity to work with a dynamic team focused on providing investors with private debt offerings to suit investor needs and deliver value for clients.”
“QIC’s complementary offerings of Infrastructure and Multi-Sector are areas that debt investors could consider when looking to diversify their portfolios.”
“QIC’s broad investment offerings allows us to leverage the capabilities of other teams, which will be key to growing the private debt business and balancing investors’ portfolios.”
QIC Private Debt offers institutional investors with exposure to diversified debt investments across infrastructure (within the OECD) and corporate, asset-backed securities and real estate (in Australia and New Zealand) sectors.
