Moss grows $150m Australian RE fund

A Sydney-based firm recently launched by former bankers from Macquarie Group and Lehman Brothers, is reportedly close to closing an Australian real estate fund.

Moss Capital, the Sydney-based real estate advisory and fund management group, is planning to capitalise on Australia’s “favourable” demographics as it closes in on approximately $150 million for a real estate fund.

According to a report by Bloomberg, the firm, which was launched in August, could raise a number of real estate vehicles for the country, its chief executive officer Glenn Willis said.

Willis, the former head of Lehman Brothers in Australia, launched the business alongside chairman Bill Moss, who was formerly head of banking and property at Macquarie.

Willis said the firm was seeking to raise money both domestically, including from Australia’s sizeable superannuation fund market, and from international capital markets for funds that will have a lifespan of 3-4 years.

He told Bloomberg: “Across Australia, the demographics are favorable and the supply and demand fundamentals are favorable. Put all that together and there’s a real opportunity. We’re seeing a lot of high-quality development opportunities come across our desk.” He mentioned an improving domestic currency as being among the favorable demographic factors.

Willis became Lehman’s Australian managing director after the collapsed Wall Street Bank took over Grange Securities, a firm he founded in 1995. Moss launched Macquarie’s real estate division in 1984.

Their new firm, Moss Capital, has around 15 staff.