PAG Asia looks to raise $2b for seventh opportunistic APAC fund

PAG Asia is seeking $2 billion in capital commitments for its newly launched opportunistic real estate fund, Secured Capital Real Estate Partners VII (SCREP VII).

Like the other funds in the fund series, SCREP VII will focus on debt and property investments primarily in Japan, as well as China, South Korea and other select markets in the Asia Pacific region.

The fund’s predecessor, SCREP VI, received $1.9 billion in capital commitments, exceeding its target of $1.7 billion. It completed its final close in September 2017.

Prior to that, SCREP V raised $1.5 billion to invest in distressed debt, hard assets, platform equity, bridge financing and co-development opportunities in Asia Pacific, according to PAG.

The Hong Kong–based independent alternative investment firm has invested $29 billion in more than 6,900 properties across Asia.