Abu Dhabi Wealth Fund invests another $450 million in Australian private lending fund Qualitas

The company, owned by Abu Dhabi Investment Authority (ADIA), one of the world's largest investment funds, will double its investment in Australian private real estate lender, Qualitas

The move doubles ADIA's investment to A$1.4bn after the first round in August last year.

Australia-listed Qualitas has A$7.5 billion under management, the vast majority of which is managed on behalf of institutional investors.

Qualitas co-founder Andrew Schwartz said Qualitas has A$2.3 billion ready to invest.

Big banks and government debt markets are increasingly wary of the real estate sector, where higher rates are driving down property values and work-from-home and e-commerce are challenging the long-term viability of some offices and malls.

Tuesday's deal also opens the door for ADIA to acquire a stake in Qualitas. As part of an initial investment of A$700 million, ADIA received share options equivalent to 9.99% of Qualitas issued shares last August.