SC Capital Partners has raised US$900m (€834.5m) for its latest opportunistic Asia Pacific real estate strategy.
The manager said the capital was raised in the final close of the Real Estate Capital Asia Partners VI (RECAP VI) fund and related entities.
RECAP VI, an investment fund targeting developed Asia Pacific markets, received commitments from a diverse range of institutional investors, including sovereign wealth funds, corporations and top-tier institutions, SC Capital Partners said.
Suchad Chiaranussati, chairman and founder of SC Capital Partners, said: “Despite ongoing challenges in global capital markets, we remain optimistic about the Asia Pacific real estate sector.
“We continue to identify compelling opportunities, particularly in Japan’s hospitality sector, the data centre market, and the industrial and logistics sectors, all of which are underpinned by strong long-term fundamentals.”
To date, RECAP VI has already committed more than 70% of total raised equity, with 44% allocated to Japan, specifically in the hospitality and data centre sectors.
RECAP VI’s investments include the acquisition of a portfolio comprising 27 hotels in Japan.
The fund is also developing a data centre campus in Osaka, Japan and a hyperscale facility in Bucheon, South Korea, in collaboration with SC Zeus Data Centers, the firm’s in-house data centre operating platform.
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