Invesco Real Estate Asia Fund IV completes first close

Invesco has completed a $380 million first close for its Invesco Real Estate Asia Fund IV, focused on the Asia Pacific region, sources familiar with the matter told Mingtiandi.

Invesco is targeting a total of $500 million for the closed-end fund, which will focus its investments in Australia, China and Japan.

The fund was backed by insurers and pension funds, located primarily in the United States with one investor in Europe. Investors include the Teacher Retirement System of Texas and the Maine Public Employees Retirement System, which committed $100 million and up to $30 million, respectively.

The Invesco Real Estate Asia Fund IV strategy has raised a total of $505 million, including sidecar and co-investment commitments.