Cedar Pacific
Cedar Pacific is a Brisbane-based specialist investment manager focused exclusively on the living sector across Australia and New Zealand, managing approximately A$3.8 billion in assets across Purpose-Built Student Accommodation, Build-to-Rent, and Co-Living strategies for global institutional investors.
- Company typePrivate
- Founded2015
- HeadquartersBrisbane, Australia
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Cedar Pacific does
Cedar Pacific is a Brisbane-headquartered specialist investment manager focused exclusively on the living sector across Australia and New Zealand. Founded in 2015 by CEO Bernie Armstrong together with Pamoja Capital, the firm manages approximately A$3.8 billion in assets deployed and managed as at April 2026, across three strategies: Purpose-Built Student Accommodation (PBSA), Build-to-Rent (BTR), and Co-Living. The company has delivered accommodation now home to more than 10,000 residents, with a portfolio spanning university partnerships with institutions including the University of Auckland, University of Melbourne, UNSW, University of Canterbury, and the University of Adelaide.
The firm operates as a traditional institutional fund manager, raising closed-end private real estate funds from global institutional investors — sovereign wealth funds, superannuation funds, pension funds, and insurance companies — through direct institutional sales and placement agents (Credit Suisse acted as exclusive placement agent for prior raises). The platform has launched four fund vehicles: Fund 1 (A$350M, 2015), Fund 2 (A$500M+ from European investors, 2018), Fund 3 (seeded 2021 in New Zealand), and a BTR Fund (raised 2024). Fund 1 was exited in October 2023 delivering a 14.7% gross IRR against a 13–15% target range.
Cedar Pacific earns revenue through three streams: (1) recurring investment management fees as a percentage of committed or invested capital across its funds, (2) performance fees / carried interest tied to fund exits, and (3) development management fees earned by acting as developer for purpose-built assets within its managed funds. The firm's competitive differentiation rests on its single-sector specialization, depth of operational involvement from development through asset management, embedded ESG integration (ranked #1 in Oceania for GRESB Residential Management & Performance, 2025), and established relationships with operator UniLodge and developers including Hutchinson Builders and McConnell Property.
Cedar Pacific firmographics
Firmographics- Name
- Cedar Pacific
- Legal name
- Cedar Pacific Investment Management Pty Ltd ACN 608 750 438
- Website
- https://cedpac.com
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Cedar Pacific is a Brisbane-based specialist investment manager focused exclusively on the living sector across Australia and New Zealand, managing approximately A$3.8 billion in assets across Purpose-Built Student Accommodation, Build-to-Rent, and Co-Living strategies for global institutional investors.
- Ownership category
- akta.pro rank
Cedar Pacific industry classification
Industry- Product category
- Real Estate Investment Management
- NAICS
- Portfolio Management and Investment Advice (52394), Residential Property Managers (531311), Funds, Trusts, and Other Financial Vehicles (525)
- SIC
- Investment Advice (6282), Investors, Nec (6799)
- akta.pro primary industry
- Off-Campus Purpose-Built Student Housing (PBSA) Management (BPAJAJAB)
- akta.pro secondary industry
- Residential Investment Property Brokerage (SFR/Small Multifamily) (BPAJAAAE)
Keywords
Where Cedar Pacific is headquartered
LocationHeadquarters
- HQ city
- Brisbane
- HQ country
- Australia
- HQ region
- Oceania
Offices2 records
Markets served
Cedar Pacific business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Investment Management Fees: Cedar Pacific earns management fees based on assets under management (AUM) across its living sector funds - PBSA, Build-to-Rent, and Co-Living strategies. As an investment manager, the company charges ongoing management fees typically calculated as a percentage of committed or invested capital.
- Performance Fees / Carried Interest: The company generates carried interest through successful fund exits, as demonstrated by the Fund 1 exit achieving a 14.7% gross IRR against a 13-15% target range.
- Development Management: Cedar Pacific acts as developer for purpose-built assets, managing the full development lifecycle from planning through construction, earning development fees and creating assets for their managed funds.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels4 records
Cedar Pacific product offering
Product offeringCore offering
Cedar Pacific is a specialist investment manager focused exclusively on the living sector across Australia and New Zealand. The firm manages institutional capital across three strategies - Purpose-Built Student Accommodation (PBSA), Build-to-Rent (BTR), and Co-Living - sourcing, developing, acquiring and operating residential assets on behalf of global institutional investors including sovereign wealth funds, pension funds and superannuation funds. As at April 2026, the firm has A$3.8BN in assets developed and managed, delivered over 10,000 resident outcomes, and operates with deep involvement across the full investment lifecycle from planning through to operations and ESG outcomes.
Differentiator
Problem solved
Functional benefit
Products and services
- Purpose-Built Student Accommodation (PBSA) Funds Pooled institutional investment vehicles that acquire, develop and operate purpose-built student accommodation assets near major universities across Australia and New Zealand. Designed for global institutional investors seeking exposure to PBSA with demographic tailwinds.
- Build-to-Rent (BTR) Fund Pooled institutional fund investing in professionally managed, long-term rental residential developments in CBD and inner-ring locations across Australia and New Zealand. Targets institutional investors seeking exposure to the structurally undersupplied rental housing market.
- Co-Living Fund Institutional fund strategy targeting flexible, community-oriented co-living rental accommodation for urban professionals and mobile workers, offering all-inclusive pricing and shared amenity.
- Development Management End-to-end development management services covering planning, design and construction oversight of purpose-built residential assets. Cedar Pacific acts as developer for assets that feed into its managed funds, including assets such as 50 Quay Street Brisbane BTR.
- Asset Management Ongoing portfolio management services across Cedar Pacific's PBSA, BTR and Co-Living assets, including operator management, ESG performance oversight, sustainability ratings (GRESB) and broader performance outcomes for institutional fund investors.
Quantifiable outcome
- 14.7% gross IRR achieved on Fund 1 (2015-2023), at top of 13-15% target range despite COVID-19 challenges.
- +2 more outcomes
Companies that use Cedar Pacific
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles2 records
Cedar Pacific technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Cedar Pacific partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered major and core.
- Manulife IMmajorManulife Investment Management partnered with Cedar Podium on a 15-storey, 389-bed Zero Carbon certified student housing development near Queen's University in Kingston, Ontario - Cedar Podium's first international expansion.
- Sumitomo ForestrycoreStrategic partnership to develop sustainable Build-to-Rent communities across Australia and New Zealand, beginning with the 50 Quay Street Brisbane BTR development.
- McConnell PropertycoreDevelopment partner with Cedar Pacific for the 14 Huron Street Takapuna BTR development - Auckland's North Shore's first major build-to-rent project on the former Gasometer site.
- UniLodgecoreLong-standing operational partner managing Cedar Pacific's purpose-built student accommodation assets across Australia and New Zealand. UniLodge operates all Cedar Pacific PBSA properties.
- Hutchinson BuilderscoreSelected as builder for the 50 Quay Street Brisbane BTR project - a 32-storey riverside tower delivering 475 apartments.
- Eke PanukumajorAuckland Council development agency that partnered with Cedar Pacific and McConnell Property consortium for the Takapuna BTR development site sale and development agreement.
- Essence CommunitiesmajorPartnership on the 50 Quay Street Brisbane BTR project as part of the Queensland Government's pilot BTR program.
Scale indicators8 records
Expansion highlights5 records
Cedar Pacific competitors and assessment
Company assessmentDirect peers
- Greystar Real Estate Partners: World's largest PBSA and multifamily/BTR investment manager and operator. Directly comparable to Cedar Pacific as an institutionally backed living-sector investment platform with global AUM, multi-strategy funds, and developer-operator partnerships.
- Lendlease Living: Australian-headquartered global developer-investor in BTR and PBSA. Comparable to Cedar Pacific through its dual role as institutional investor and developer of purpose-built living-sector assets across ANZ.
- Scape Australia: One of Australia's largest PBSA owner-operators with a multi-thousand-bed portfolio. Competes directly with Cedar Pacific for university partnerships and institutional PBSA mandates across ANZ.
- BlueSky Investments: Australian alternative asset manager with active residential and living-sector strategies. Comparable to Cedar Pacific as a domestic specialist investor in PBSA, BTR, and residential property.
- AsheMorgan: Australian residential and BTR developer-investor with institutional backing. Overlaps with Cedar Pacific in the purpose-built residential living sector across Sydney, Melbourne, and Brisbane markets.
- Round Hill Capital: Global specialist investment manager focused on PBSA, BTR, and co-living. Comparable to Cedar Pacific as a living-sector-only fund manager raising institutional capital through closed-ended funds.
- McConnell Property: New Zealand-based residential and BTR development partner. Already a co-development partner on Cedar Pacific's Takapuna BTR project while operating as a comparable residential living-sector investor in the NZ market.
Broad incumbents
- Brookfield Asset Management: World's largest alternative asset manager with material BTR/PBSA commitments globally. Competes with Cedar Pacific for institutional mandates while operating at vastly larger scale and asset breadth.
- CBRE Investment Management: Global real estate investment manager with institutional living-sector products. Already a JV partner (Cedar Pacific Accommodation Trust), so serves both as collaborator and competitive benchmark.
- M&G Real Estate: European real estate investment manager with active BTR strategies and institutional residential mandates. Comparable as a fund-driven acquirer of living-sector assets competing for similar LP pools.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Cedar Pacific social profiles
Digital presenceCedar Pacific financial estimates
Financial estimateRevenue estimate
Valuation estimate
Cedar Pacific leadership team
Management profileNumber of profiles
Profiles8 records
Cedar Pacific funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Cedar Pacific M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Cedar Pacific
What does Cedar Pacific do?
Cedar Pacific is a specialist investment manager focused exclusively on the living sector across Australia and New Zealand. The firm manages institutional capital across three strategies - Purpose-Built Student Accommodation (PBSA), Build-to-Rent (BTR), and Co-Living - sourcing, developing, acquiring and operating residential assets on behalf of global institutional investors including sovereign wealth funds, pension funds and superannuation funds. As at April 2026, the firm has A$3.8BN in assets developed and managed, delivered over 10,000 resident outcomes, and operates with deep involvement across the full investment lifecycle from planning through to operations and ESG outcomes.
Is Cedar Pacific a public or private company?
Cedar Pacific is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Cedar Pacific founded?
Cedar Pacific was founded in 2015. It employs 11 to 50 people.
Where is Cedar Pacific based?
Cedar Pacific is headquartered in Brisbane, Australia, in the Oceania region.
How does Cedar Pacific make money?
Three revenue lines are on record. Investment Management Fees are the primary driver. The others are performance Fees / Carried Interest and development Management.
Who are Cedar Pacific's main competitors?
Direct peers on record are Greystar Real Estate Partners, Lendlease Living, Scape Australia, BlueSky Investments, AsheMorgan, Round Hill Capital and McConnell Property. Broad incumbents are Brookfield Asset Management, CBRE Investment Management and M&G Real Estate.
Does Cedar Pacific have an API?
No public API is recorded for Cedar Pacific.
What industry is Cedar Pacific in?
Cedar Pacific's product category is Real Estate Investment Management. Its primary akta.pro industry code is BPAJAJAB, Off-Campus Purpose-Built Student Housing (PBSA) Management, with a secondary code of BPAJAAAE, Residential Investment Property Brokerage (SFR/Small Multifamily). Its NAICS code is 52394 and its SIC code is 6282.