MaxCap delivers record year with 14% growth in funds under management
22 December 2022, Sydney
Australia’s leading commercial real estate financier, MaxCap Group, announced that it delivered a record year in 2022, including a 14% increase in fund assets, strong deployment of A$2.8 billion and significant team growth to support origination and capital formation.
2022 also marked MaxCap’s first year as a strategic investment partner of Apollo (NYSE: APO), one of the world’s leading alternative asset managers. In late 2021, Apollo acquired a minority stake in MaxCap Group as part of an innovative strategic partnership designed to accelerate MaxCap’s growth in Australia and New Zealand.
In the past 12 months, MaxCap effectively navigated a challenging macro-economic environment to achieve record calendar year performance with strong growth in funds under management of 14% to circa A$7.0 billion. This included delivering A$2.8 billion of new capital across loans and investments with a healthy forward pipeline of more than A$6.0 billion.
MaxCap also launched two new unlisted equity funds in Australia and New Zealand, the A$250 million MaxCap Diversified Opportunity Fund and the NZ$200 million MaxCap / Winton Medium Density Development Fund.
Throughout the year, MaxCap invested heavily in its platform, making 30 new hires to support its continued scaling across both origination and capital raising. Of particular note was MaxCap’s recent appointment of leading industry executive Rob Hattersley as Group Head of Capital.
Mr. Brae Sokolski, Executive Director, MaxCap said: “I am incredibly proud of MaxCap’s stellar performance under adverse trading conditions. Irrespective of the economic cycle, MaxCap always remains committed to supporting our clients and retains high conviction in the long-term fundamentals of the Australian real estate market.”
Mr. Matthew Michelini, Partner and Head of Asia Pacific, Apollo said: “At the one-year mark into our long-term partnership, we continue to be impressed by MaxCap’s performance, people, and breadth of capabilities. We look forward to supporting Brae, Wayne and the team as they enter 2023 with solid strategic momentum.”