Real estate investment house Qualitas has partnered with Financial Review Rich Lister Tim Gurner on a $1 billion build-to-rent development fund amid a flood of capital pouring into the fast emerging asset class.

Qualitas, which in May launched a $1 billion debt fund (backed by the Clean Energy Finance Corporation) to provide construction loans to developers for build-to-rent projects, will progressively raise capital for the new equity fund while Mr Gurner undertakes the delivery of the projects, which he will also manage once completed.