<article>US-based global investor <a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/stories/blackrock-sells-singapore-office-tower-1-5-billion-cct-82755/" target="_blank" rel="noopener">BlackRock</a> has raised over $500 million for its Asia-focused realty vehicle, Asia Property Fund IV, which it had launched with a fundraising target of over $1 billion.</article>

US-based global investor <a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/stories/blackrock-sells-singapore-office-tower-1-5-billion-cct-82755/" target="_blank" rel="noopener">BlackRock</a> has raised over $500 million for its Asia-focused realty vehicle, Asia Property Fund IV, which it had launched with a fundraising target of over $1 billion.
The fund&#8217;s final close at half the target amount took place in September this year, according to a report by PERE on Monday.
The vehicle, an opportunistic real estate fund to invest in property assets in Asia Pacific, is the fourth in a series. The previous fund, BlackRock Asia Property Fund III, had raised $3.89 billion.
Employees Retirement System of the State of Hawaii committed $50 million to the fund, according to the Hawaii fund&#8217;s CIO Vijoy Chattergy who was quoted in an earlier report by IREI.
Other investors include Canadian investment manager British Columbia Investment Management Corporation which has earlier invested in BlackRock&#8217;s Fund II and III in this series.
BlackRock has been an active real estate investor in Asia. The private equity heavyweight in 2013 had acquired Singapore-based private equity firm, <a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/stories/singapore-capitaland-blackrock-in-talks-for-asia-square-2-sale-68236/" target="_blank" rel="noopener">MGPA</a> which started off as the property investment arm of Australia&#8217;s Macquarie Group.
At that time, BlackRock Asia-Pacific Chairman Mark McCombe had said that he identified real estate as a key part of the long-term secular growth trend in the Asian markets when he moved to the asset manager in 2011.
The Asian real estate market has assumed greater significance as many alternative asset investors have set aside funds or are mopping up capital to invest in the region. Among firms that have raised Asian realty-focused funds are Morgan Stanley ($650-million vehicle), Savills Investment Management with a billion-dollar fund and Blackstone with a $5-billion Asia real estate-focused fund.
While many private equity players have added a realty investing arm, some larger ones have launched large Asia-focused vehicles to invest in residential and commercial real estate.
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<a class="tinymce-colortext" style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/blackstone-marks-first-close-of-asia-real-estate-pe-fund-at-5b-breaks-earlier-record-83608/">Blackstone marks first close of Asia real estate fund at $5b; breaks earlier record</a>
<a href="https://www.dealstreetasia.com/stories/morgan-stanley-savills-blackstone-ready-asia-focussed-realty-funds-total-corpus-at-6-5b-66503/">Morgan Stanley, Savills, Blackstone ready Asia-focused realty funds. Total corpus at $6.5b</a>

US-based global investor BlackRock has raised over $500 million for its Asia-focused realty vehicle, which it had launched with a target of over $1 billion.

BlackRock closes fourth Asia property fund at $500m, falls short of $1b target

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BlackRock closes fourth Asia property fund at $500m, falls short of $1b target

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