Senior Writer, Private Equity & Wealth Funds
The fifth fund follows its predecessor CVC Asia Fund IV that had raised $3.5 billion in May 2014
The REIT, which currently holds assets worth over $2.2 billion mostly in Singapore, has said it is not in a rush to go overseas.
The key is to make a move and be in the under-served markets in Southeast Asia “before other institutional investors come in,” according to Jimmy Phua, Managing Director, Head of Real Estate Investment Asia at CPPIB.
The firm maintains a 300 basis point overweight position in Traditional Private Equity and 500 basis point underweight in Growth/VC/Other.
David Luboff will lead the pan-Asia operations of KKR’s global infrastructure business.
The fund has already invested over $350 million in various portfolio firms.
The fund was launched in August 2017 and was expected to wrap up fundraising by the end of 2018.
Poddar has advised on TA’s investments in ACT, Fincare, Fractal Analytics, Ideal Cures, BillDesk, Prudent Corporate Advisory Services, RateGain, Shilpa Medicare and Tega Industries.
The purchase closely follows Gaw Capital’s acquisition of Ocean Towers, a Grade A office building in Shanghai.
The building was earlier jointly owned by a Keppel Corp fund and Singapore-listed property developer City Developments.