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Moelis Australia buys out real estate fund manager

Moelis Australia buys out real estate fund manager

Real estate fund manager

A national firm has advised Moelis Australia in its acquisition of an established real estate fund manager.

Firm: Hall & Wilcox (Moelis Australia); Undisclosed (Armada Funds Management)

Deal: Moelis Australia has acquired Armada Funds Management.

Value: $29.5 million

Area: M&A

Key players: The Hall & Wilcox legal team was led by corporate and commercial section head John Hutchinson, with assistance from partner Chris Brown, senior associate Caroline Raw, and lawyers Max Chung and Rebecca Schot-Guppy.

Deal significance: Armada Funds Management is a real estate fund manager.

This acquisition represents a first made by Moelis Australia since its ASX listing and IPO.

Moelis Australia operates a financial services business across the corporate advisory, equities and asset management segments and will add approximately $800 million in assets under management across 10 unlisted Armada funds, resulting in total AUM in excess of $2 billion across a diverse range of asset classes, according to a statement from Hall & Wilcox.

Armada’s two founders and principals will take up senior leadership roles in the combined Moelis Armada Real Estate Asset Management business, the firm said.

Adding to this, Mr Hutchinson said: “Obviously we are delighted to work with the Moelis Australia team. The quality of assets and expertise acquired, in the form of Armada, will add to Moelis Australia’s undoubted existing bench-strength in real estate asset management”.

“Our involvement showcases our capability as corporate real estate and funds lawyers, and our ability to work collaboratively, quickly and effectively with sophisticated, motivated clients,” he said.

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