BPE Asia Real Estate, the real estate business of Baring Private Equity Asia, one of Asia’s largest private equity firms, has held a final close for its maiden real estate fund, according to IREI’s FundTracker database.
BPE Asia Real Estate Fund has raised $365 million since it was launched in June 2013. The firm raised capital from an array of institutional investors, including U.S. pension funds and corporates, European private wealth managers, a Hong Kong family office, and a Middle Eastern sovereign wealth fund.
The opportunistic fund has started to invest its capital, acquiring an office building in the Philippines and the mezzanine debt behind a portfolio of office, retail and hotel assets in South Korea. The fund will target opportunities where there is a dislocation between pricing and underlying asset values and where value creation initiatives are a driver of r
