SilkRoad Property Partners raises $377m

The Singapore-based private equity real estate firm held a first close of its second pan Asia value-add fund.

SilkRoad Property Partners has held a first close of its second Asia value-add fund, SilkRoad Asia Value Partners II, at $377 million against its $500 million target. Fund II is backed by investors including European institutional investors that previously committed capital to its predecessor SilkRoad Asia Value Partners I.

Fund II will follow the same strategy of investing in value-add opportunities in Hong Kong, Singapore and China as Fund I which raised $445.5 million with a target of $350 million.