Through applying local knowledge and active asset management,MGPA said it generated more than two times equity and delivered 20%gross IRR to investors "at a time when real estate was sufferingfrom the aftermath of the dot-com crash and SARS," according tocompany officials. The fund is one of the first of its kind to beround-tripped within the agreed timeline, and to meet returntargets. Senior Partner James Quille says "Global Fund I was MGPA'sflagship fund, and I am proud to say that the key personnel remainthe same today.

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Registered in Bermuda, MGPA now has $10 billion of assets undermanagement. It is now investing its $5.2 billion Global Fund III,also including many investors from Funds I and II. To date, MGPAhas raised $8.1 billion of equity for real estate investment. Thefirm is owned by senior management and Macquarie, a provider ofbanking, financial, advisory, investment and fund management,listed in Australia.

AllanSaundersonis a managing editor of Property FinanceEurope and a contributor to GlobeSt.com.

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