Through applying local knowledge and active asset management, MGPA said it generated more than two times equity and delivered 20% gross IRR to investors "at a time when real estate was suffering from the aftermath of the dot-com crash and SARS," according to company officials. The fund is one of the first of its kind to be round-tripped within the agreed timeline, and to meet return targets. Senior Partner James Quille says "Global Fund I was MGPA's flagship fund, and I am proud to say that the key personnel remain the same today.

Registered in Bermuda, MGPA now has $10 billion of assets under management. It is now investing its $5.2 billion Global Fund III, also including many investors from Funds I and II. To date, MGPA has raised $8.1 billion of equity for real estate investment. The firm is owned by senior management and Macquarie, a provider of banking, financial, advisory, investment and fund management, listed in Australia.