AEW, a global institutional real estate investment manager, has held a final close for its third Asia Pacific value-added fund, AEW Value Investors Asia III (VIA III), with commitments totaling $1.12 billion. The commitments were inclusive of client co-investment capital.
The capital raised for the fund exceeded AEW’s $750 million fundraising target, with commitments coming from public and private pension funds and insurance companies based in the United States and Europe. 100 percent of the institutional investors committed to the predecessor fund, AEW Value Investors Asia II. The predecessor fund was capitalized with $640.2 million, including $50 million of client co-investment capital, and that vehicle has achieved realizations on nearly 50 percent of its investments.
VIA III will continue to acquire assets in key gateway cities across the Asia Pacific region, principally Hong Kong, Singapore, Seoul, Shanghai and Sydney, as well as Beijing and Melbourne.
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