Fundraising - APRIL 22, 2015

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Ascendas holds $266m final close for fourth fund

by Andrea Waitrovich

Singapore-based real estate developer and fund manager Ascendas has announced the final closing of its Ascendas China Business Parks Fund 4. The value-added fund raised S$333 million ($266 million) in equity commitments.

ACBPF 4 will invest in a portfolio of premium business park assets in Shanghai, Suzhou and Xi’an. To date, the fund’s portfolio consists of Ascendas Lotus Business Park in Zhangjiang, Shanghai; Ascendas-Xinsu portfolio in Suzhou and Ascendas Innovation Towers development project in Xi’an.

Ascendas will hold a significant sponsor stake of 23 percent in the fund and the other co-investors comprise institutional investors, including major European pension funds and Singapore institutions, such as bpfBouw Asia, ImmoFinRE Group and Singapore Press Holdings will retain the remaining.

“As China’s economic development progresses towards higher value-added activities, it presents attractive opportunities to partic

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