Christie Ou
In addition to expanding into non-core strategies, the investor is planning to increase its pool of real estate funds from five to 15 by 2025.
Hong Kong's AIA, Malaysia's KWAP and Employees Retirement System of Texas are among those looking to prioritize opportunities in the US.
Asian firms dominated the region’s award shortlists in both Firm of the Year and Capital Raise of the Year in 2023.
Indonesia’s first and only sovereign wealth fund expects to expand its real estate allocation to 15% over the next five years.
The firm will focus on converting existing hospitality assets into co-living properties in the country through a value-add strategy.
The Hong Kong-based firm has received an initial commitment of more than $400m from an anchor investor in the fund.
Although 38% of investors were overallocated to the asset class in 2023, only 27% plan to invest less capital this year.
The total of $138.93bn raised in 2023 represented a 41% drop from the $236.04bn raised in the 2021 fundraising peak.
The new platform is intended to help mitigate miscommunication issues that led to unintended forced sales of properties.
Nearly half of the $4.5bn GCP raised across strategies came from RMB vehicles for the 12 months ended November 2023.
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