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SC Capital fund has an $850m final close

by Reg Clodfelter

SC Capital Partners has held a final close for Real Estate Capital Asia Partners IV, having exceeded its initial $750 million fundraising goal by bringing in $850 million, according to IREI’s FundTracker Database.

The pan-Asian opportunistic fund, which launched in June 2014, will invest across the major property types in its pursuit of a 20 percent IRR and 2x equity multiple. The fund series is focused on value creation through refurbishing, repositioning and operating real estate assets that are under-managed or from distressed sellers, in areas where market inefficiencies and strong macro economic fundamentals yield attractive opportunities, according to the firm’s website.

Recently, the firm acquired the Rydges Darwin Airport Hotel and Resort in Australia from the Denwol Group for approximately $80 million, reportedly using funds from RECAP IV.

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