Gaw Capital Partners has raised an initial US$1.2bn (€1bn) for its seventh Asia-Pacific real estate fund.
The amount raised by the Gateway Real Estate Fund VII fund at the first close is almost half of the opportunistic fund’s US$2.5bn hard cap target. Gaw raised US$2.2bn in the final close of its sixth Asia-Pacific fund.
The Hong Kong-based real estate private equity firm said that, alongside Gateway Real Estate Fund VII, an additional US$400m had been raised for sidecar co-investment.
Investors in Fund VII included sovereign wealth funds, endowments, pension funds and other top-tier institutional investors who had invested in previous APAC Gateway Funds, as well as new investors to the fund.
Christina Gaw, managing principal and global head of capital markets said the commitments from investors reflected “a strong vote of confidence” in Gaw Capital’s approach to investing in a diverse range of asset-backed platforms throughout the Asia-Pacific region.
The firm had increased expansion into thematic platforms such as data centres, healthcare and education-related real estate platforms, which were welcomed by its investors.
Like its predecessor Gateway funds, Fund VII would target real estate assets with favourable risk-return profiles, mainly in Asia-Pacific, with exposure in China, Japan, Vietnam, South Korea, Singapore, Southeast Asia and Australia.
The latest fund would also focus on life science and medical-related asset-backed platforms, data centres, logistics warehouses, thematic retail and outlet malls and education-related assets to capture specific market trends and address particular needs.
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