Sniper Capital, the Macau-focused fund management business, has launched its first private equity real estate fund as it aims to capitalise on what it terms is a lack of quality non-gaming leisure on the former Portuguese colony. The Hong Kong-based firm plans to raise $100 million for the vehicle which will purchase residential assets before changing the use to food and beverage leisure.
Aiming for 25 percent returns, the Macau Sniper Fund was formed for investment from institutional investors, high-net-worth individuals, private banks and sovereign wealth funds.
ASIA NEWS: Macau’s other needs
The former colony receives most attention for its gaming. One firm sees potential in its leisure industry instead. PERE magazine September 2010 issue
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