Christie Ou
A year after closing on $1.15bn for its latest Pan-Asia opportunity fund, the Chicago-based manager is looking to raise another billion for logistics in China.
The Singapore-headquartered firm is partnering with China’s CICC for its first RMB-denominated real estate investment vehicle.
The firm has invested in a total of four logistic development projects in Indonesia since it first entered the market two years ago.
A year after making its first investment via joint venture partnerships in the US, the Korean pension is on the lookout for more co-investment deals in both the US and Japan.
Some institutional real estate managers believe China’s domestic consumption insulates its real estate from Trump’s tariff hikes.
There has been a surge in foreign investments in Chinese real estate in recent months, despite macro headwinds like the trade war.
The Singapore-headquartered firm has raised a total of $947m for two real estate vehicles, since it first started discretionary fundraising in July.
The manager has held a first close of $400m for its third pan-Asia fund entirely from re-ups, demonstrating investors’ continued support following the sale of co-founder Fred Schmidt’s stake in the business.
The Toronto-based private markets giant intends to drive returns through active operational management.
More than half of the $185bn raised in 2018 has already been deployed, a recent report by ANREV, INREV and NCREIF showed.