Abu Dhabi Investment Authority made an additional commitment of A$700 million ($454.6 million) to an Australian real estate strategy managed by Qualitas.
ADIA will now invest a total of A$1.4 billion in Qualitas Diversified Credit Investments, which invests in commercial real estate, following its initial A$700 million investment in August 2022 that led to the establishment of QDCI.
With this mandate, Qualitas has A$2.3 billion dry power ready to be deployed into the Australian commercial real estate sector to take advantage of further dislocation in the financing market, as traditional financiers appear to continue to retreat, particularly in the residential and development sectors, Andrew Schwartz, group managing director and co-founder at Qualitas, said in a news release Tuesday.
The sovereign wealth fund has about $829 billion in assets. Its real estate allocation is between 5% and 10% of its total assets.
An ADIA spokesman declined to comment beyond the release.