Savills IM launches $1.2b first pan-Asia income and growth fund

Sydney, Australia. Photo by Liam Pozz on Unsplash

Real estate investment manager Savills Investment Management (Savills IM) has launched its first pan-Asia income and growth fund with a targeted investment volume of 1 billion euros ($1.2 billion).

The total investment volume will include a maximum debt ratio of 60% at the fund level, Savills IM said in an announcement. The firm has secured the first close for the vehicle, Savills IM Asia Pacific Income and Growth Fund (APACIG), at about 95 million euros ($115 million).

APACIG will focus on core-plus investments, with the potential to offer co-investment opportunities, Savills IM said. The fund targets an IRR in the region of 8-10%, with investments focused on assets including offices, logistics/industrial, retail and residential in Asia Pacific’s developed markets and key gateway cities.

APACIG has secured two acquisitions at 190 million euros, bringing Savills IM’s total assets under management in Australia to 260 million euros, it said.

The two properties are an 11-storey office building at 241 O’Riordan Street, located 7 kilometres from Sydney’s central business district and Clifford Gardens Shopping Centre, a nine-hectare site located in Toowoomba, Australia’s second-largest inland city.

Savills IM has also poached BlackRock’s APAC real estate business CIO Greg Lapham to spearhead APACIG. He will lead the newly appointed investment team in Sydney, which includes investment director Guy Sainsbury, who recently joined Savills IM from Lendlease; investment manager Anthony Lupis; and analyst Jacob van Egmond.

“The Asia-Pacific real estate market offers investors strong economic growth across a diverse set of investment opportunities. Due to its transparency, Australia is an important and attractive destination for real estate investments. It will play a prominent role in our continued expansion in the Asia Pacific region,” Lapham said.

“It’s likely that the next deal will be in Japan where we have a strong investment presence and where we believe growth prospects in certain sectors are also very positive,” he added.

Savills IM manages properties worth around 1.3 billion euros in the Asia Pacific region with local offices in Singapore, Tokyo, Kuala Lumpur and Sydney.

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.