SC Capital raises US$850m for fifth real estate fund

Singapore-based SC Capital has raised US$850m (€760.9m) for its fifth real estate fund.

The manager’s Real Estate Capital Asia Partners (RECAP) V raised US$650m in equity commitments and another US$200m in co-investment from existing RECAP V investors at final close.

The predecessor RECAP IV fund also raised US$850m 

Suchad Chiaranussati, chairman and founder of SC Capital Partners, said existing investors contributed to 82% of the equity raised in RECAP V.

The investors came from North America, Europe and Asia-Pacific and included public and private pension funds, university endowments, asset managers, private foundations, family offices, insurance companies and funds of funds.

IPE Real Assets understands that some of the repeat investors in the RECAP series of funds have been US state pension funds, such as the San Francisco Employees’ Retirement System, Dallas Fort Worth Employees Retirement Fund and City of Phoenix Employees Retirement System.

The pan Asia-Pacific RECAP fund series targets undervalued, under-managed and distressed assets and special situations real estate.

Launched in May 2017, RECAP V has already transacted on 10 assets, with a collective value of US$280m.

Related images

  • SC Capital Partners Canberra office complex

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  • QN-2546

    Asset class: Real Estate Equity Fund (non listed).
    Asset region: Europe.
    Size: Total CHF 600m, approx. CHF 100-300m per fund investment.
    Closing date: 2019-06-28.

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