Asia-Pacific alternative investment firm PAG has raised US$4bn (€3.8bn) for its SCREP VIII opportunistic real estate fund including co-investment capital.
The fund, which surpassed its US$3.5bn target, was backed by both returning and new investors. SCREP VIII’s investor base primarily consists of pension funds and sovereign wealth funds from North America, Europe, the Middle East and the Asia Pacific region.
SCREP VIII focuses on property and debt investments across developed Asia markets with its largest investment presence in Japan. It plans to invest in multiple sectors including data centres, logistics, offices, multifamily and distressed debt.
Jon-Paul Toppino, president and co-founder of PAG, said: “We would like to thank our investors and partners for placing their trust in us. We believe that the real estate sector in Asia Pacific presents tremendous opportunities for growth.
“Our deep roots and established local presence in key Asia-Pacific markets allow us to navigate their complicated dynamics and capitalise on these opportunities.”
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