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Gaw Capital Partners to launch fifth Asian real estate fund
Hong Kong-based Gaw Capital Partners, known for such hits as acquiring the InterContinental Hong Kong Hotel and developing Vietnam’s tallest skyscraper, is apparently hitting the fundraising circuit for its fifth and largest real estate fund.
Mingtiandi reports that the family-run firm plans to raise $1.5 billion for the Gaw Capital Gateway Fund V, a fund, unlike its China-centric predecessors, which will carry a pan-Asian mandate and just $750 million set for mainland Chinese properties.
The move apparently comes after regional REPE firms dimmed their outlook on mainland real estate:
“Gaw’s decision to move beyond its traditional base in Hong Kong and mainland China to look for opportunities may reflect the challenges that fund managers are currently facing raising funds for acquisitions in China after a flurry of sour economic news from the mainland.
In 2014 Gaw invested a reported $200 million to acquire an office tower in Seoul, South Korea, and that same year purchased the Hyatt Regency in Osaka for a reported $30 million.”
Gaw, according to its website, has raised over $5.2 billion since its inception and now commands over $10.6 billion in capital.
Photo: InterContinental Hong Kong