![]() ![]() Before joining the State Department, she had a distinguished career in the private sector, including both corporate and entrepreneurial ventures. State Department, a program she expanded to almost 150 countries, under Secretary Hillary Clinton. Porges also served as President of the North American Jury for Cartier Women’s Initiative for over a decade and as the former Senior Advisor, Global Entrepreneurship Program (GEP) at the U.S. She is also a Board Member of the Financial Alliance for Women and on the Advisory Board for Cornerstone Capital, Mindshift Capital, Different Funds and Global Invest Her. Shelly Porges is Co-Founder and Managing Partner of The Billion Dollar Fund for Women and Beyond the Billion. ![]() Shelly Porges Co-Founder & Managing Partner Qualitas declined to comment on the potential listing on Monday.K. If the cornerstone meetings go well, and it sounds like Qualitas management is getting a good reception, the company could pull the trigger on its IPO in the next few weeks and list before the end of the year.Īndrew Fairley, a senior Melbourne lawyer and superannuation fund trustee, is lined up as Qualitas chairman.Ī bunch of listed equity investors are already familiar with the group and at least one of its products, the Qualitas Real Estate Income Fund, which has traded on the ASX boards since November 2018 and targets a 5 per cent to 6.5 per cent return above the cash rate. Macquarie Capital is arranging the meetings and expected to be lead manager. His major backer Trawalla, Alan and Carol Schwartz’s family office (no relation to Andrew Schwartz), is also expected to retain its stake in full. It is understood Qualitas is talking about a $300 million-odd raising for about a $700 million market capitalisation.ĬEO Schwartz has already told potential investors he will not sell a share at the IPO. Management reckons the IPO could also increase Qualitas’ profile, which should help secure more opportunities for its funds and then provide firepower and access to capital. The bulk of the capital in its funds is from institutional clients, while it makes money from management fees, transaction fees and performance fees. Qualitas’ investments have predominantly been made via senior loans, while it also cut cheques for mezzanine debt, preferred equity and ordinary equity. Qualitas’ bigwigs told potential investors they wanted to list the management company, which has oversight of its funds, and use capital raised at the IPO to co-invest in assets, similar to ASX-listed property investor Charter Hall Group or Centuria Capital. It is understood the pair, flanked by the firm’s corporate development head Kathleen Yeung and CFO Philip Dowman, told potential investors they’re responsible for $4.2 billion in funds under management across 10 active strategies, and had grown FUM by 36 per cent a year since inception (on a compound annual growth rate basis). Street Talk can reveal Qualitas management, spearheaded by managing director Andrew Schwartz and co-founder and head of real estate Mark Fischer, has spent the past week or so in front of a group of potential cornerstone investors, explaining their group’s 13-year track record and growth ambitions. Qualitas CEO Andrew Schwartz is spearheading talks with potential investors. Alternative real estate investment house Qualitas is conducting confidential investor soundings for a sharemarket float that could value the group at about $700 million and see it list on the ASX before Christmas.
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