BPEA Real Estate raises $1bn

The Hong Kong-based private equity firm took just five months to raise its second real estate fund.

Baring Private Equity Asia has held a final close on BPEA Real Estate Fund II at $1 billion, surpassing its initial fundraising target of $750 million.

Fund II is almost tripled the size of its predecessor, BPE Asia Real Estate Fund, which corralled $365 million in 2015. It will focus on diversified properties in ten Asian markets including Hong Kong, Japan, Philippines, Korea, Australia, Singapore, India, Thailand, Malaysia and China.