Fundraising - MAY 24, 2016

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PGIM Real Estate holds final close of €580m for Asia fund

by Zoë Wolff

PGIM Real Estate has held a final close of €580 million ($647.9 million) for its Asia Property Fund III, according to a statement.

The fund invests in office, retail, residential and logistics properties in both emerging and mature markets of Australia, China, Japan, Malaysia, Singapore, Hong Kong and South Korea. ASPF III has completed four transactions in the residential, office and retail sectors in Sydney, Kuala Lumpur, Shanghai and Tokyo.

The fund held a first close of €480 million ($525 million) in July 2015. The fund’s predecessor, ASPF II, held a final close of €949 million ($1.04 billion) in 2007.


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