Gaw Capital Partners has closed its seventh Asia-Pacific real estate fund with $3bn (€2.8bn) in capital commitments.
The real estate private equity firm said Gateway Real Estate Fund VII’s investors include sovereign wealth funds, endowments, pension funds and other institutional investors that have invested in previous funds in the series, as well as new investors.
Last year, IPE Real Assets reported that Teachers’ Retirement System of the State of Illinois had approved a $100m commitment to the fund. State of Wisconsin Investment Board also made a $50m commitment to Gateway Real Estate Fund VII and committed the same amount to co-invest alongside the vehicle.
The fund focuses on office, retail, hospitality, industrial, datacentre and life-science properties, as well as private credit and thematic platforms across Greater China, Japan, South Korea, Southeast Asia and India.
Gaw said the fund has so far invested in Japan by acquiring a logistics portfolio across the Greater Tokyo area and Hyatt Regency Hotel in Tokyo. The fund has also invested in data centers and logistics warehouses, and invested in an outlet mall in Guangzhou and a life-science park in Shanghai.
The fund has also made several real estate-backed private credit investments in Hong Kong and Mainland China.
Christina Gaw, managing principal and global head of capital markets and co-chair of alternative investments at Gaw Capital Partners, said the firm’s thematic-driven investments in sectors such as life sciences, data centres and logistics had received positive responses from its investors.
She added: “In addition, the private-credit deals which we have been active in for the last 24 months in Asia region also offer attractive opportunities to institutional investors despite the current inflationary pressure, rising interest rates and potential recession risks.”
Gaw raised $2.2bn in the final close of its sixth Asia-Pacific fund.
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