AEW Capital Management has raised $275 million for AEW Value Investors Asia III, according to a filing with the SEC. The firm did not comment on its fundraising efforts.
The value-added fund, which launched earlier this year, is seeking to raise a maximum of $750 million and will invest in the major Asian gateway cities of Hong Kong, Seoul, Shanghai, and Taipei, Taiwan.
The fund’s predecessor, AEW Value Investors Asia II, held a $640.2 million final close in 2016. The total fundraise included $50 million of client co-investment capital.
In July, Fund II sold City Plaza, an office building in the Yeouido Business District of Seoul to an offshore core investor. The sale of City Plaza represents the third exit from the AEW Value Investors Asia II fund. Over the past 10 months, AEW has acquired five office assets in Seoul, Shanghai, Hong Kong and Sydney
