In little more than a year, ANREV (the Asian Association for Investors in Non-listed Real Estate Vehicles) has doubled its membership to 100 organisations.
In an announcement, ANREV said it had reached the milestone following the joining of Composition Capital Partners, the first real estate investment management business to launch an Asia real estate fund of funds.
ANREV, which has an affiliation of the longer-established INREV, is an organisation which aims to introduce more transparency to the non-listed real estate fund markets in Asia via establishing and integrating a set of operating guidelines. Its members comprise investors, fund managers, fund of fund managers and advisors. It is led by an executive of one such organisation, Nick Loup, who is the chief executive for Asia at London-headquartered Grosvenor.
“The growth is also attributable to ANREV’s clear focus on the private funds industry, which allows us to concentrate on providing the right output for this rapidly growing part of the market,” Loup said.
Since inception, ANREV has grown a database of fund information accounting for more than 89 funds, reflecting a gross asset value of $65.2 billion. It estimates the entire non-listed fund universe of Asia is conservatively £263 billion in size.
Last autumn, PERE interviewed ANREV in which the association revealed it would launch an index for its members to measure performance against. Work is expected to start on the index this year with ANREV organising a working group comprising up to five GPs and LPs setting realistic targets for implementation.
To read the interview, click here.
“ANREV has made excellent progress in providing vital market information to our industry, as well as promoting industry standards,” said Erwin Stouthamer, managing director and founder of Composition Capital Partners, “These initiatives help to improve industry standards and transparency for the Asian non-listed property markets, helping investors make better informed investment decisions with benchmarks in the region.”