Boston-headquartered real estate investment manager AEW Capital Management is targeting to raise over $1 billion for its fourth value-add fund for Asia, AEW Value Investors Asia IV, according to industry sources.
The latest fund will be a successor to the $1.2-billion AEW Value Investors Asia III, which was closed in June 2018 after exceeding a $750-million initial target. The third fund focuses on the acquisition of assets in key gateway cities across the Asia Pacific, primarily Hong Kong, Singapore, Seoul, Shanghai and Sydney, as well as Beijing and Melbourne.
