Aberdeen extends final close for Asia-focused fund of funds
London-based investment manager Aberdeen Asset Management has extended the final close date for Aberdeen Asia III Property Fund of Funds to October 2013 from the end of May. The date allows investors who issued their due diligence at a later stage the opportunity to commit to the fund.
The fund has a fundraising target of $300 million to $400 million, and a hard cap of $600 million. Specific investors in the fund were not disclosed, but they are largely institutional.
In a second close held May 3, the fund raised $20 million, and a further $20 million was committed to the fund’s co-investment program. Since its launch in April 2012, the fund has raised $512 million in capital commitments from institutional investors, according to Roberto Varandas, head of business development – global property at Aberdeen.
Aberdeen Asia III Property Fund of Funds will invest in established market