CLSA Capital Partners raised $1 billion for its third Fudo Capital which will be used to acquire real estate assets in Asia Pacific, the firm said in a statement.
The amount raised exceeded its $850 million target as pension funds, sovereign wealth funds, endowments, assets managers and insurers in Asia, Europe, North America and the Middle East all gave their commitments to the fund.
The company is optimistic about the region’s growth outlook, as well as its property market.
“We are confident that the Asia-Pacific region will continue to yield highly attractive investment opportunities going forward. Each country we invest in presents distinct opportunities unique to their respective cycles, which create a diversified and complementary portfolio of real estate across Asia-Pacific,” said CLSA Capital Partners managing director John Pattar.
Pattar, who is also the head of the fund, added:
“Exceeding our original target of US$850 million to reach the Fund’s hard cap of $1 billion is a testament to continued investor interest in participating in the region’s compelling growth story.
The fund will focus on so-called first tier cities such those in Australia, China, Hong Kong, Japan, Singapore, South Korea and Taiwan.
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