Hong Kong’s Gaw Capital hits first close of Fund VII at $1.2b, sets $2.5b hard cap

Source: Gaw Capital Partners

Real estate private equity (PE) firm Gaw Capital Partners announced on Wednesday the first close of its seventh Asia Pacific real estate fund at $1.2 billion, with a target to raise $2.5 billion at the hard cap to make it the firm’s largest vehicle to date.

The first close of Gateway Real Estate Fund VII came with an additional $400 million raised for sidecar co-investment, which refers to a pooled investment vehicle that makes investments alongside the main fund.

Limited partners (LPs) in Fund VII include sovereign wealth funds, endowments, pension funds, and other institutional investors who had made commitments to the firm’s previous APAC Gateway funds, in addition to unspecified new investors.

The new fund will follow an investment strategy similar to its predecessor Gateway funds, said Gaw Capital in a statement. It will target real estate assets with “favourable risk-return profiles” mainly in the Asia Pacific, with exposure to China, Japan, Vietnam, South Korea, Singapore, Southeast Asia, and Australia.

Fund VII will also focus on life sciences and medical-related asset-backed platforms, data centres, logistics warehouses, thematic retail, outlet malls, and education-related assets, said the firm.

Previous funds

The fundraising update came two years after the firm held the final close of its Gateway Real Estate Fund VI at a hard cap of $2.2 billion in December 2019. Alongside Fund VI, it secured co-investment commitments of up to $800 million.

Gaw Capital, which has commanded assets of $32.5 billion as of Q2 2021, has raised seven commingled funds targeting the Greater China and APAC regions. It also manages value-add and opportunistic funds in Vietnam and the US, a Pan-Asia hospitality fund, a European hospitality fund, a growth equity fund, while providing services for separate account direct investments globally.

“Our increased expansion into thematic platforms such as data centres, healthcare and education-related real estate platforms are welcomed by our investors. Our APAC flagship fund series serves as an important investment vehicle for investors looking to gain exposure to this high-growth region with well-balanced portfolio diversification,” said Christina Gaw, managing principal and global head of capital markets at Gaw Capital.

Established in 2005, Gaw Capital operates as a PE fund management firm specialising in real estate markets in the Asia Pacific and other selected markets globally. The firm’s investments span the entire spectrum of the real estate sector, covering residential development, offices, retail malls, serviced apartments, hotels, logistics warehouses, and IDC projects.

Targeting to deliver strategic value to under-utilised real estate through redesign and repositioning, the firm runs its own in-house asset management operating platforms in commercial, hospitality, property development, logistics, IDC, and education.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.