REAL ESTATE – Erwin Stouthamer’s Composition Capital Partners has opened a regional office in Hong Kong.
The office would deal with local partners and scout out new investment opportunities for its Asia private real estate fund of funds.
Amsterdam-based CCP was set up by the former MN Services real estate chief in January last year.
Stouthamer said: “Having an Asia office means we can spend more time with our local partners, that we're accessible to them, and that we're closer to the day-to-day business. A local presence also makes picking opportunities easier."
He added the move reflected the firm’s optimistic assessment of regional real estate market drivers. The Asia fund universe covers China, India, Japan, Australia and Singapore, as well as Hong Kong.
He claimed that Asian real estate markets show largely healthy price levels, which give good prospects for future returns. “GDP growth and solid demographics both support real estate,” he said.
“The rise of the middle class in many countries – notably China and India – will have a positive impact on residential, retail and logistical real estate. The growth of the service sector in the region will increase demand for premises."
The opening of the Hong Kong office coincides with the appointment of William Shaw as fund manager of the Composition Capital Asia fund, one of two real estate funds CCP launched last year. CCP claims it is the first real estate fund of funds in Asia available to institutional investors.
Canadian Shaw previously worked for Deloitte & Touche in Taipei and for Cushman & Wakefield in Hong Kong.
Stouthamer said: "The real estate fund industry is expanding rapidly, hence the need for experienced managers able to select the best of breed of local partners through which you can access good real estate returns.”