Metrics launches third fund on ASX

Private credit specialist, Metrics Credit Partners has brought a new fund to market backed by ‘recommended’ ratings from both Lonsec and Zenith.

Metrics has launched an initial public offer (IPO) for stapled units in the Metrics Real Estate Mutli-Strategy Fund which it says provides investors with an opportunity to invest in two trusts registered with the Australian Securities and Investments Commission (ASIC).

It said the Metrics Real Estate Multi-Strategy Passive Trust (Passive Trust) and Metrics Real Estate Multi-Strategy Active Trust (Active Trust) (Fund) had been registered with ASIC and are proposed to be jointly quoted on the ASX as stapled securities on 16 October 2024.  An interest in the Fund consists of one unit in the Active Trust and one unit in the Passive Trust (Unit Set).

Metrics said the fund provided investors with the opportunity to obtain broad exposure to commercial real estate investments and is targeting a total return of 10% ti 12% net of all costs through the economic cycle,

The IPO issue price for subscriptions is A$2.00 per Unit Set to raise a target amount of A$300 million with the ability to accept oversubscriptions. The minimum investment is $2,000 and the offer closes at 5:00pm on 25 September 2024.

Commenting on the product, Metrics Managing Partner, Andrew Lockhart said it would be the firm’s third listed fund open to investors on the ASX. T

“The Fund offers the opportunity to obtain broad exposure to both private CRE debt and private CRE equity investments which are not typically available to investors. The Fund offers immediate deployment of the funds raised from the Offer in existing investments portfolios managed by Metrics,” Lockhart said.

“Metrics manages funds which invest across all real estate asset classes with investment assets directly originated, negotiated, structured and executed through the extensive proprietary relationships and expertise of the Metrics team.

“As one of the largest private credit investors in the Australian real estate sector, Metrics leverages its market position to originate high quality investment opportunities covering all parts of the capital structure (senior, mezzanine debt, preferred equity and equity).”