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- MaxCap Group
MaxCap Group Funding, Investors & Competitors
MaxCap Group has raised $648M across 2 funding rounds, most recently a $48M undisclosed-stage round in September 2023.
Last MaxCap Group funding round
$48M
Undisclosed stage · Sep 2023
Cumulative funding MaxCap Group raised
$648M
across 2 funding rounds
Key investors in MaxCap Group
Clean Energy Finance Corporation
APG Asset Management
About MaxCap Group
MaxCap Group is a Sydney-headquartered commercial real estate debt and equity manager operating across Australia and New Zealand. The firm oversees $10 billion in assets under management through funds like MaxCap Core+ and MaxCap Direct Lending, providing construction finance, senior debt, and mezzanine investments for office, retail, industrial, and residential projects. It manages mandates for major superannuation funds such as AustralianSuper and Hostplus, alongside global institutions like PGIM Real Estate. Established in 2013, MaxCap Group maintains offices in Melbourne, Brisbane, Auckland, and Perth.
Founded
2007
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Investment management
MaxCap Group Funding History
MaxCap Group has raised a total of $648M across 2 funding rounds.
MaxCap Group's first fundraising round was a $600M undisclosed-stage round in June 2019. The most recent completed round was a $48M undisclosed-stage round in September 2023.
MaxCap Group funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Sep 2023 | Undisclosed stage | Clean Energy Finance Corporation | $48M | MaxCap Group is an Australian and New Zealand commercial real estate investment manager founded in 2007. In September 2023, the Clean Energy Finance Corporation (CEFC) committed up to $75 million to a green real estate finance strategy managed by MaxCap Group, targeting sustainable building upgrades across commercial offices, hotels, and retail assets. The mandate aimed to decarbonise a substantial part of Australia's property sector with a target of 30% cuts to operational emissions. The first investment under this strategy was a $35 million CEFC commitment paired with $35 million co-investment from MaxCap via its MaxCap Investment Trust (MIT) for the refurbishment of a 26-storey office tower at 30 Pirie Street in Adelaide. MaxCap Group manages over $7 billion in funds under management and advice, with a zero loss track record across more than 600 loans and $17.4 billion in investments since inception. The company is certified carbon neutral for business operations since 2020 and grew its workforce by 41% between 2021 and the 2023-24 financial year, demonstrating significant expansion during this period. |
| Jun 2019 | Undisclosed stage | APG Asset Management (lead) | $600M | MaxCap Group is an Australian non-bank lender and commercial real estate debt manager founded in 2007, specializing in first-mortgage stretch-senior loans and construction lending across various real estate asset classes including residential, industrial, retail, office, and hotels. In July 2019, Dutch pension fund manager APG Asset Management announced its first foray into Asia Pacific real estate debt with an initial commitment of A$300 million to MaxCap, including an option to increase total commitments to A$600 million. This partnership targeted scalable opportunities in Australia's commercial real estate debt market amid banks reducing exposure due to capital requirements, with MaxCap noting a projected $50 billion funding gap by 2023 and maintaining loan-to-value ratios no higher than 65%. Initial capital was deployed to seed loans, leveraging MaxCap's on-the-ground expertise and track record of originating and managing over A$7 billion in CRE debt, with AUM and advice of circa A$3.7 billion at the time. The APG commitment was structured as a mandate for MaxCap to deploy funds into first-mortgage loans, marking APG's entry into the asset class via its Hong Kong-based Asia Pacific real estate portfolio of approximately €11.6 billion. MaxCap's managing director Wayne Lasky highlighted the strategy's sustainability and appeal to institutional investors seeking strong risk-adjusted returns with lower risk compared to equity. APG's head of private real estate for Asia Pacific, Graeme Torre, praised MaxCap as a strong long-term partner. At the time, APG managed €505 billion in pension assets overall. Later developments included APG exercising the option in 2022 to complete the full A$600 million mandate and adding a potential re-up to A$1.2 billion, amid rising borrowing costs and bank retrenchment. Separately, in September 2022, MaxCap sold a 50% equity stake to Apollo Global Management clients, bolstering its capital access and growth in Australia and New Zealand, with a forward lending pipeline exceeding A$6 billion and historical performance across over 450 investments totaling more than A$11 billion. |
Who has invested in MaxCap Group?
2 investors have backed MaxCap Group across its funding rounds, including Clean Energy Finance Corporation and APG Asset Management.
Lead investors include APG Asset Management.
MaxCap Group Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
This data is available for Pro users. Sign up to see all 2 MaxCap Group investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialMaxCap Group Competitors
MaxCap Group competitors include listed companies like Brookfield, Brookfield Asset Management, Morgan Stanley and Goldman Sachs, and private ones like Fabric Invest and NYDIG.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $75B | $32B | $83B | 59.5x | ||
| Publicly listed | $4.6B | $3.2B | $73B | 13.6x | ||
| Private | - | - | $1.5B | - | ||
| Publicly listed | $66B | - | $320B | 4.1x | ||
| Publicly listed | $58B | - | $277B | 4.1x | ||
| Private | $100M | - | $7B | 70.0x |
MaxCap Group Public Comps
MaxCap Group is still privately-owned, but its public comps include Morgan Stanley, Goldman Sachs, BlackRock, Blackstone, KKR, Brookfield, Apollo Global Management, Brookfield Asset Management, Macquarie Group and Strategy.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $66B | - | 4.8x | 4.1x | - | - | |||
| $58B | - | 4.8x | 4.1x | - | - | |||
| $24B | $8.8B | 7.1x | 6.2x | 19.4x | 14.0x | |||
| $15B | $7.7B | 8.4x | 8.9x | 16.3x | 14.6x | |||
| $19B | $7.1B | 3.1x | 6.1x | 8.5x | 9.5x | |||
| $75B | $32B | 6.1x | 59.5x | 14.4x | 64.8x | |||
| $32B | $8.3B | - | - | - | - | |||
| $4.6B | $3.2B | 17.6x | 13.6x | 25.1x | 24.6x | |||
This data is available for Pro users. Sign up to see all MaxCap Group competitors and their valuation data. Start Free Trial | ||||||||
Common questions about MaxCap Group
| When was MaxCap Group founded? | MaxCap Group was founded in 2007. |
| Where is MaxCap Group headquartered? | MaxCap Group is headquartered in Sydney, Australia. |
| Is MaxCap Group publicly listed? | No, MaxCap Group is a private, VC-backed company. |
| How much funding has MaxCap Group raised? | MaxCap Group has raised $648M across 2 funding rounds. |
| What was MaxCap Group's last funding round? | MaxCap Group's last funding round was a $48M undisclosed-stage round in September 2023. |
| Who are MaxCap Group's investors? | MaxCap Group's investors include APG Asset Management and Clean Energy Finance Corporation. |
| Which companies are comparable to MaxCap Group? | Companies comparable to MaxCap Group include Brookfield, Brookfield Asset Management, Fabric Invest, Morgan Stanley, Goldman Sachs and NYDIG. |
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