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Invesco Asia fund raises $75m

by Zoë Wolff

Invesco Real Estate has raised $75 million for its Invesco Asia Real Estate Fund III, according to a filing with the SEC.

The opportunistic fund, which was launched in 2014, is seeking to raise $500 million in equity commitments and will invest in Australia, China and Japan. The fund is targeting gross returns of 15 percent to 19 percent.

Invesco Real Estate acquired the Asian real estate investment platform of embattled insurer AIG in 2010. Invesco Asia Real Estate Fund II, formerly AIG Asian Real Estate Fund II, raised $765 million and closed in 2008. Invesco Asia Real Estate Fund I, which focused on Japanese logistics properties, held a final close in 2010.

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