- Companies
- MaxCap Group
MaxCap Group Funding, Investors & Competitors
MaxCap Group has raised $600M across 2 funding rounds, most recently a strategic investment round in September 2021.
Last MaxCap Group funding round
Strategic investment
Amount undisclosed · Sep 2021
Cumulative funding MaxCap Group raised
$600M
across 2 funding rounds
Key investors in MaxCap Group
Apollo Global Management
APG Asset Management
About MaxCap Group
MaxCap Group is a Melbourne-headquartered commercial real estate investment manager that lends to and invests in property projects across Australia and New Zealand. It was founded in 2007 by Wayne Lasky and Brae Sokolski and now manages about A$8 billion of funds, with more than 110 staff in five offices in Australia and Auckland. Its real estate credit business provides construction, senior and mezzanine loans funded through vehicles such as the MaxCap Investment Trust, which has passed A$1 billion of assets, and through single-asset investments; it also makes real estate equity investments. More than half of its funds under management come from institutional capital, including global pension funds, with the rest from sophisticated investors. In 2021 Apollo Global Management acquired a substantial equity stake, reported at up to 50%, in a deal that valued MaxCap at more than A$300 million, with the two founders each selling part of their holdings. MaxCap earns management and performance fees and investment returns on the capital it deploys into Australian and New Zealand commercial property.
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 $600M 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 strategic investment round in September 2021.
MaxCap Group funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Sep 2021 | Strategic investment | Apollo Global Management | - | Clients managed by affiliates of Apollo Global Management entered into a definitive agreement in September 2021 to acquire up to a 50% equity stake in MaxCap Group, an Australasian commercial real estate financier and fund manager. Terms were not disclosed. MaxCap co-founders Wayne Lasky and Brae Sokolski continued to lead the company and kept the remaining shareholdings. The companies said the investment would strengthen MaxCap's access to capital and its ability to deliver lending solutions alongside Apollo's credit platform, and extend Apollo's origination reach into Australia and New Zealand, where it expected to increase its commercial real estate debt and equity activity. Apollo co-president Scott Kleinman described MaxCap as a leader in non-bank real estate lending, and Apollo senior partner Philip Mintz said the firm's origination record and market position made it a partner of choice for investors and borrowers. Founded in 2007 and headquartered in Melbourne, MaxCap was ranked first in commercial real estate debt in Australia and had completed more than 450 investments totalling more than A$11 billion, with a forward pipeline of more than A$6 billion at the time of the deal. |
| 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 Apollo Global Management and APG Asset Management.
Lead investors include APG Asset Management.
MaxCap Group Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
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 Fisher Investments.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $75B | $32B | $93B | 63.6x | ||
| Publicly listed | $4.6B | $3.2B | $85B | 15.6x | ||
| Private | - | - | $1.5B | - | ||
| Publicly listed | $66B | - | $284B | 3.5x | ||
| Publicly listed | $58B | - | $250B | 3.5x | ||
| Private | - | - | $13B | - |
MaxCap Group Public Comps
MaxCap Group is still privately-owned, but its public comps include Morgan Stanley, Goldman Sachs, BlackRock, Blackstone, Brookfield, KKR, Brookfield Asset Management, Apollo Global Management, Macquarie Group and Strategy.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $66B | - | 4.3x | 3.5x | - | - | |||
| $58B | - | 4.3x | 3.5x | - | - | |||
| $24B | $8.8B | 7.9x | 6.6x | 21.6x | 14.9x | |||
| $15B | $7.7B | 7.9x | 8.2x | 15.4x | 13.6x | |||
| $75B | $32B | 6.2x | 63.6x | 14.7x | 65.5x | |||
| $19B | $7.1B | 3.0x | 5.2x | 8.3x | 7.9x | |||
| $4.6B | $3.2B | 21.0x | 15.6x | 30.0x | 29.4x | |||
| $32B | $8.3B | - | - | - | - | |||
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 Melbourne, 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 $600M across 2 funding rounds. |
| What was MaxCap Group's last funding round? | MaxCap Group's last funding round was a strategic investment round in September 2021. |
| Who are MaxCap Group's investors? | MaxCap Group's investors include APG Asset Management and Apollo Global Management. |
| Which companies are comparable to MaxCap Group? | Companies comparable to MaxCap Group include Brookfield, Brookfield Asset Management, Fabric Invest, Morgan Stanley, Goldman Sachs and Fisher Investments. |
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