Aberdeen holds $151m final close for Asia Pacific fund
Aberdeen Asset Management has held a $151 million final close for its latest Asia Pacific property investment fund.
This latest fund will focus on building a portfolio of best-in-class unlisted funds, joint ventures, clubs and co-investments across Asia Pacific including Japan. The fund targets an IRR of at least 12 percent over its anticipated 12-year life.
The new vehicle is the fourth Asia Pacific multi-manager fund Aberdeen has launched since 2006 and will be run by a team in Singapore under Kang Puay-Ju, head of property multi-manager at the global asset management firm.
The fund is distinguished from another series of property multi-manager funds the team manages that invests more conservatively in core to core-plus strategies, both globally and regionally. The Asia Pacific–focused fund in this series added $30 million in a second close in December bringing the total fund size to $100 million.
Aberdeen’s property multi-manag