Heitman closes Pan-Asia Property Fund
Global real estate investment management firm Heitman has announced the final close of the Heitman Asia-Pacific Property Investors Fund (HAPI) as it has exceeded the fund’s target of US$250 million, with US$338 million in total.
The fund, which is a closed-end value added fund, remained focused on identifying opportunities to create value through asset repositioning, expansion or redevelopment, with initial commitments to investments made in Tokyo, Melbourne and Hong Kong.
The firm said it would focus the remainder of the capital on the most developed and liquid markets in the region including Tokyo, Osaka, Sydney, Melbourne, Brisbane, Hong Kong, Singapore and Seoul, where the fund would continue to select traditional property types such as retail, logistics, residential and office.
Heitman’s Asia-Pacific Private Equity and HAPI portfolio manager, Skip Schwartz, said the fund’s investment strategy was designed to benefit from the extensive investment of the firm and the Asia Pacific Private Equity investment team in the region.
“Heitman made its first investment in the region in 2011 and since that transacted on more than US$3 billion of real estate across the Asia-Pacific region,” the firm said.
AUTHOR
Oksana Patron
Recommended for you
Australian fund managers are actively seeking to launch Cayman versions of their funds to attract offshore flows, with Regal Partners set to launch its latest offering this month.
As private markets gain traction in Australia but only a limited pool of talent is available, three recruiters explore whether fund managers should consider looking overseas to find top talent.
With an explosion of private credit managers appearing in the market, two alternatives experts believe a consolidation is needed to maintain the quality of the sector.
Bentham Asset Management has become the latest fund manager to expand its distribution team as it reports increased interest in its credit strategies.
