Composition Capital Partners, a real estate investment firm based in Amsterdam and Hong Kong, has held a first closing of its second Asia-dedicated fund, Composition Capital Asia Fund II.
According to the firm, so far the fund ahs received a $100 million commitment by a ‘large institutional investor.’ Composition intends to raise additional capital from other institutions with a target fund size of $400 million. This fund is the successor fund of Composition Capital Asia Fund, which was launched in 2005 and is now fully committed to local partners across Asia.
The Fund will target returns in excess of 15 percent and will invest in non-listed real estate investment vehicles, including private funds, secondary transactions and joint ventures with local partners. The firm says risks will be managed and reduced by offering a portfolio of different managers, investment styles, sectors and countries.
“Getting access to many Asian real estate markets has improved dramatically,” said William Shaw, director with Composition Capital in Hong Kong, in a statement. “The growth of cross-border capital flows certainly has fueled the Asian real estate fund management industry; we are seeing a strong growth of the number of funds available in the market.”