Macquarie Asset Management is planning to boost its private credit offering by expanding into commercial ground rents, with a team led by new recruits from investment services group Alpha Real Capital.
The expansion forms part of a secure income strategy. Macquarie highlighted ground leases as an attractive proposition since they can offer “secure, long-term income streams to match their long-dated liabilities”.
The firm has appointed Hugo James as a managing director and Tom Benham as a vice president. The duo has joined from Alpha Real Capital, where James was a partner and head of long income. Benham was a director in his previous role.
James will report to Kit Hamilton and Tim Humphrey, managing directors in Macquarie’s private credit team.
James said: “Interest in secure income real estate strategies has grown rapidly as investors seek to diversify their portfolios and access returns that are no longer available via high-quality corporate and government bonds.”
Humphrey said the appointments will enable the firm to “quickly establish a strong presence in the market”. He added: “The addition of secure income real estate represents the natural next step in our goal of offering clients a range of differentiated private credit capabilities.”
Macquarie’s private credit team has raised more than £8bn from investors since 2012.
To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette
