SC Capital raises $850m new realty fund

Singapore based institutional real estate private equity investment firm, SC Capital Partners has held the final close of its fourth real estate private equity fund on $850 million, the company said.

The fund – Real Estate Capital Asia Partners IV or RECAP IV – held its final closing on December 5, 2014, three months following its first closing, raising capital from a diverse array of institutional investors from across the globe. Limited partners in RECAP IV comprise 34 institutional investors from North America, Europe, Asia and Australia.

DEALSTREETASIA had reported in November 2014 that SC Capital’s latest investment vehicle had also been oversubscribed by over $500 million and had added that the PE firm planned final closure of this fund at around $800 million by 2014-end.

Also read: SC Capital buys Aussie resort, set to close RECAP IV Fund

“We believe RECAP IV is well positioned to take advantage of the investment opportunity in this diverging world environment, and we are pleased to have support from a global investor base,” said Suchad Chiaranussati, chairman of SC Capital Partners.

RECAP IV has completed two investments as of December 31, 2014, including a retail asset in Melbourne, Australia, and an interest in prime beachfront land in the Phang Nga Province of Thailand.

RECAP III was closed at $530 million despite being oversubscribed by more than $100 million against its $500 million hard cap target. Prior to that, the company had had raised $221 million as part of RECAP I in 2005, and $190 million in equity as part of RECAP II in 2010.

Formed in 2004, SC Capital Partners is a 100 per cent employee-owned, and invests in in multiple property types, including office, retail, multifamily, hospitality and mixed-use assets, across China, Hong Kong, Japan, Singapore, South Korea, Australia, Thailand and Myanmar. Since inception, SC Capital Partners has invested more than $870 million of equity and just under $1.8 billion of total capital across 39 deals across its four funds.

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.