Hong Kong-based real estate private equity firm Gaw Capital Partners has raised US$1.2 billion in a first close of its seventh Asia Pacific real estate fund, Gateway Real Estate Fund VII.
Alongside Gateway Real Estate Fund VII, there is an additional US$400 million raised for sidecar co-investment available, the company said.
Gateway Real Estate Fund VII aims to raise US$2.5 billion at hard cap – Gaw Capital Partners’ largest fund to date.
Following a similar opportunistic investment strategy as its predecessor Gateway funds, Fund VII will target real estate assets with favorable risk-return profiles mainly in Asia Pacific, with exposure in China, Japan, Vietnam, South Korea, Singapore, Southeast Asia and Australia.
Fund VII will also focus on life science and medical-related asset-backed platforms, data centers, logistics warehouses, thematic retail and outlet malls and education-related assets to capture specific market trends and address particular needs.
Christina Gaw, Managing Principal and Global Head of Capital Markets, commented, “We are extremely grateful to our investors who have continued to support us despite travel restrictions during the pandemic. The commitments we have received reflect a strong vote of confidence in Gaw Capital’s approach to investing in a diverse range of asset-backed platforms throughout the Asia Pacific region and its ability to deliver value for investors. Our increased expansion into thematic platforms such as data centers, healthcare and education-related real estate platforms are welcomed by our investors. Our APAC flagship fund series serves as an important investment vehicle for investors looking to gain exposure to this high-growth region with a well-balanced portfolio diversification.”
Investors in Fund VII include sovereign wealth funds, endowments, pension funds and other top-tier institutional investors who have invested in the previous APAC Gateway Funds, as well as new investors to the fund.