Australian firm Evergreen Capital Partners plans to start a global real estate and infrastructure hedge fund on July 1.
Bloomberg reported that Evergreen will launch the fund with more than $9.6 million in assets and hopes to manage more than $48 million within 12 months. The fund will cap at around $481 million.
The new fund will invest in REIT and infrastructure securities globally that provide exposure to airports, toll roads, ports, rail, shopping centers, office assets and industrial estates.
Andrew Smith, the co-manager for the new fund, explained that “[the fund] is largely about exploiting individual stock mispricings, not taking big bets on the sectors.”
Based in Mebourne, Evergreen’s Australian real estate and infrastructure fund returned 36% this year ending in April.