Corestate opens for business in Asia

The Zug-based private equity real estate firm has opened an office in Singapore with a view to positioning itself closer to some of its investors.

Corestate Capital, the Zug, Switzerland-based private equity real estate firm, has opened its first office in Asia in a bid to get closer to investors.

The firm announced today it has opened an office at Raffles Place in Singapore. Corestate said its principal purpose was to be in a better position to serve its existing investors from the Middle East and Asia. It said it also wanted to use the office to help increase its fundraising and investment efforts in the region.

Ralph Winter, the founder of Corestate is expected to oversee the office. He will regularly commute between Corestate’s Swiss headquarters and the new Singapore office in the first instance.

Winter described the new office opening as a part of its plan to step up its efforts to offer investment vehicles to Asian institutions and private investors looking to diversify their portfolio by including European real estate investments. Labeling the office opening as “the logical next step” towards building a global platform, he said the office would help Corestate evaluate potential investments in the region too.

He said: “Asian economies have experienced outstanding growth rates over the past decade, and are set for continued appreciation. As a result, the total amount of cumulative wealth has exponentially increased not only in China, Singapore and Hong Kong, but also in economies such as Indonesia, Malaysia and Vietnam. Asian real estate markets will become increasingly important contributors to global GDP, and regional investors even more active in global investments in real estate.”