Christie Ou
The South Korean pension plan has raised its real estate exposure by 13 percent since year-end 2021 - here is a deep dive into its portfolio.
The Hong Kong-based firm is building more cost contingencies into its underwriting to reflect the uncertain macroeconomic environment.
The opportunistic vehicle from Seven Seas Advisors is understood to have gathered capital from nine overseas investors, including Partners Group.
The firm is expected to have deployed $400m, or 80% of the capital raised in the fund's first close, across three deals by October.
The manager has been seeking to establish a real estate equity platform in Asia-Pacific since 2019, the same year talks between the two parties began.
For a number of private real estate firms, the strategic importance of having platforms still outweighs the higher costs of acquiring them.
The industrial manager closed on three of the top 10 largest funds in the first half of the year, making it private real estate's biggest fundraiser during the period.
Andrew Schwartz, co-founder of Qualitas, says the offering will better enable the firm to meet the co-investment requirements of institutional investors.
The Hong Kong-based manager is assuming higher cap rates, higher construction costs and longer project delays as it evaluates real estate investments.
A significant amount of existing investors in GLP’s first China development fund have rolled into its new income vehicle.
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