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Macquarie Asset Management has today announced plans to spin off the majority of its existing activities in Core / Core Plus real estate1 to enable the creation of Manova Partners, an independent real estate investment manager with €11.4 billion of assets under management.

The new business will largely be comprised of the real estate activities Macquarie Asset Management acquired through its 2018 purchase of GLL Real Estate Partners. Following the expansion of these activities as part of Macquarie Asset Management, a strategic review concluded that their next phase of growth would be best served by operating independently as a boutique real estate investment manager.