Global investor Actis has raised $700m (€604.8m) for its latest Asia real estate fund.
The manager said the amount raised for the Actis Asia Real Estate 2 (AARE2) fund represents limited partner fund and co-investment commitments. The fundraise saw re-ups as well as new commitments from a range of diversified global investors.
Actis said additional co-investment opportunities are expected to deliver up to $1bn of investable capital during the life of the fund.
The global investor in sustainable infrastructure said AARE2 will invest in real estate that enables the “new economy, focusing on Actis’ key geographies of China, Korea, India and South-East Asia, predominantly in Vietnam”.
The fund is already 50% committed with a strong pipeline in place in logistics, industrial, specialised office and data centres, the manager said.
Torbjorn Caesar, a senior partner at Actis, said: “This fundraise is a key step in our strategic goal to transform infrastructure for a better tomorrow, by leveraging our expertise as builders and operators, creating sustainability leaders and unlocking global opportunities wherever we find them.”
Brian Chinappi, partner and head of Actis’ real estate business, said: “Through our deep understanding of micro-market dynamics our focus is on delivering institutional quality cash flow by matching demand – driven by new economy sectors- for logistics, industrial, specialised office and urban repositioning.
“We believe values drive value – by instilling sustainability leadership in our investment approach we ensure our assets are leading-edge and future-proofed.”
Neil Brown, partner and head of Actis’ investor development group, said: “This fundraise, undertaken during challenging times, is a strong validation of our real estate business, allowing us to continue to develop and operate sustainable assets in the world’s most dynamic cities.
“We look forward to continuing to invest in real estate that enables the new economy while creating a positive impact in the countries, cities, and communities in which we invest.”
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