Assembly Funds Management, the investment house backed by the billionaire Lowy family, has begun raising finance for a second property fund, reflecting growing appetite for non-bank real estate debt.
Assembly Funds Management was set up in 2019 with $75 million from Frank Lowy – who has a personal fortune of $9.33 billion, according to the Financial Review Rich List – and the Lowy Family Group in partnership with private equity firm Alceon. It attracts money from local and foreign high-net-worth family offices as well as institutional investors.
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Primrose Riordan covers private companies and family offices from the AFR's Sydney newsroom. Primrose was previously a correspondent for the Financial Times and covered foreign affairs and politics in Canberra. Primrose has won multiple awards for her journalism including from The National Press Club, SABEW in the US and Press Gazette in the UK. Message Primrose on Signal: https://tinyurl.com/PrimroseSignal Connect with Primrose on Facebook and Twitter. Email Primrose at primrose.riordan@afr.com
