Westfield Corporation reported revenues of $1.8 billion for the 2016 financial year. Peter Lowy is a principal of the Lowy Family Group (LFG,) a private investment business with offices in New York, Los Angeles and Sydney. David Lowy is a Principal of LFG, the private investment business and family office of the Lowy Family Group.
The Lowy Family Group (LFG) is a founding investor in Assembly which is aiming to raise $450 million in a mix of debt and equity from high net worth investors.
Michael Gutman, founder of the new Assembly Funds Management. Lowy will retire as chairman of Westfield and become chair of a newly created advisory board, to provide independent advice from outside experts on its strategy. Lowy said his family, including his sons Peter, Steven and David, wanted to change their roles by becoming investors, rather than operators, he told media during a press briefing. The founders of SC Lowy embrace a culture that fosters a flat organization that is able to swiftly respond to markets in real-time, resulting in a legacy that promotes investment banking excellence . Retail billionaire Sir Frank Lowy's family investment company is moving into the non-bank lending market after backing newly-formed business, Assembly Funds Management.The Lowy Family Group (LFG) is a founding investor in Assembly which is aiming to raise $450 million in a mix of debt and equity from high net worth investors.The new fund was founded by former Westfield director Michael Gutman. Prior to the founding of LFG, Mr. Lowy served in various... Very large text size Retail billionaire Sir Frank Lowy's family investment company is moving into the non-bank lending market after backing newly-formed business, Assembly Funds Management.
David Hillel Lowy (born 31 December 1954) is an Australian businessman, aviator and musician. He will serve as chief executive with seed funding coming from former JP Morgan Bank executive Trevor Loewensohn's Alceon group as well as LFG.Assembly's first fund, ADPF1, has already raised $150 million, through equity and will target residential, industrial, commercial, leisure and retail assets.It aims to raise a total of $300 million in equity over the next two to three years, and will also raise another $150 million in debt as it looks to fill the funding gap developers are experiencing as Australia's big four banks tighten lending standards.The fund's lens is really the returns and we are almost asset class agnostic.ADPF1 is an eight year-closed diversified fund and has already bought two residential developments, one each in Sydney and Melbourne and is now focusing on the logistics sector.Mr Gutman said after leaving Westfield, where he was the global chief operating officer until the 2018 takeover by Unibail-Rodamco, he wanted to focus on doing something "more entrepreneurial and domestic-focussed".
A Holocaust survivor, Lowy opened his first shopping center in Sydney in 1959, launching what became one of the world's largest mall businesses. Current second-generation co-chief executives Peter Lowy and Steven Lowy will retire with Peter joining the supervisory board. Prior to the founding of LFG, Mr. Lowy served in various positions for the Westfield Group from 1977... View Bio. "Mr Gutman said the fund's "lens is really the returns and we are almost asset class agnostic''. After the Unibail-Rodamco sale was finalised in late May, most of Mr Lowy and his family’s assets are held in the private Lowy Family Group, which has much of its investments held in property and equities overseas, with the firm having offices in Sydney and New York. Sir Frank Lowy AC founded the Lowy Institute in 2003. Second son of Frank, Peter Lowy also involved in the family business, acts as the Chief Executive Officer of Westfield Corporation whose co-founder is Frank. Steven Lowy AM is a Principal of LFG, the private investment business and family office of the Lowy Family Group. In fact, the Lowy family sold its last 4% stake in Scentre Group last October, which the AFR reports was at a price of $3.96 a share. Founder Frank Lowy, 87, and his family have agreed to sell most of its stake in Westfield Corporation in a $16 billion deal with French retail giant Unibail-Rodamco – Australia’s largest ever takeover. "That is not where we will get our excess returns.
Frank’s youngest son Steven Lowy who was born in 1962, he is Westfield Corporations CFO and the CEO of Scentre corporation. Supplied LFG is a global direct investment business with a long-term focus on listed equities, real estate and technology.