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Laxman Pai, Opalesque Asia: Hong Kong-based Gaw Capital Partners has closed its APAC-focused Gateway Real Estate Fund VI at its hard cap of $2.2 billion.
According to the real estate-focused private equity firm with $23 billion in assets under management as of June 30, also secured $800 million in "sidecar" co-investment commitments.
Investors in Fund VI include sovereign wealth funds, endowments, pension funds and other top-tier institutional investors who have invested in the previous Gateway China Funds, as well as new investors to the fund. Of Fund VI's global institutional investors, 37% come from Asia, 17% from North America and 46% from Europe and the Middle East.
In September, Texas Permanent School Fund, a $34.6 billion, Austin-based fund, committed $5 million to Gateway Real Estate Fund VI; $23 million to the Gateway VI co-investment (Direction) and $2 million to Gateway VI co-investment (Panorama.)
In November 2018, the $24.5 billion San Francisco City & County Employees' Retirement System committed $50 million to Gateway Real Estate Fund VI.
Fund VI will follow a similar opportunistic investment strategy as its predecessor Gateway funds. It will target real estate assets in Greater China, Japan, Vietnam, South Korea, Singapore, Southeast Asia, and Australia.
In addition to China's primary gateway cities of Beijing, Shanghai, Guangzhou, and Hong Kong, Fund VI will also consider operating thematic platforms and pre-IPO real estate companie...................... To view our full article Click here
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