A German pension fund has joined Dutch pension fund asset managers APG and Bouwinvest in a fund managed by Tishman Speyer to invest in residential and living assets in South Korea.
Tishman Speyer has now secured $395m (€351m) in a second close for its Korea Living Venture (KLV), securing $75m from the unnamed German pension fund and committing $20m in sponsor equity.
The US-headquartered firm raised $300m from APG and Bouwinvest earlier this year.
The second close means that Tishman Speyer has effectively reached its $400m fundraising target and is expected to give it more than $800m investment capacity, once factoring in the use of debt.
The fund completed its first acquisition in August 2026 with the purchase of an operational, 411-unit living asset in Songdo, Incheon.
The nine-storey Songdo CoStay is located in the Songdo International Business District, home to universities and approximately 70 biotechnology and life-sciences companies.
“This second closing of our KLV fund reflects continued investor conviction in Korea’s living sector,” said Tishman Speyer’s head of pan-Asia, Graham Mackie.
“These partnerships position us well as we continue to scale a high-quality, diversified residential portfolio across the Seoul Metropolitan Area.”
