Fundraising - APRIL 1, 2015

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BPE Asia closes inaugural Asia real estate fund

by Andrea Waitrovich

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 re

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