ASK Property Investment Advisors, the private equity arm of Indian financial group ASK, has launched a INR2 billion special situations fund in the residential real estate market.
Asia-based alternative investment firm Pacific Alliance Group (PAG) has partnered with South Korean brokerage company Meritz Securities to launch a 200 billion won (€163 million; $180 million) private debt fund to provide senior loans backed by properties in South Korea.
At MIPIM Japan 2016, Asian investors came together to discuss the geographic direction of investment. They predicted a continued increase in outbound investment from Asia Pacific and also a shift to cross-border investment within the region despite slowing transaction volumes in the face of an aggressive real estate pricing environment.
“We made an investment just a few months ago before Brexit happened. I was pretty nervous. No one knows what Brexit means; there is no detailed agenda and a lot of uncertainties. But when we were underwriting the risks, we still believed London will remain a metropolitan and important city. The fundamentals will not change overnight,” said Stanley Ching, head of Real Estate Group at CITIC Capital Holdings.
State Bank of India (SBI) has signed a Memorandum of Understanding with Brookfield Asset Management, Canada’s largest alternative asset manager, to invest in stressed assets in India.
IDFC Alternatives, an Indian alternative investment manager, is approaching the second and final close of its IDFC Score Fund within two months, according to a senior executive from the firm.
Deutsche Bank has elevated Werner Steinmueller as the bank’s chief executive officer (CEO) of Asia Pacific and as a member of the management board. It has also appointed John Gibbons as his successor as head of global transaction banking.
Indiabulls Alternative Investments is set to launch a Rs1000 ($150 million) realty fund from non-resident Indian (NRI) investors.
Dutch bank ABN AMRO has promoted Brian McGirr to head of debt solutions in Asia and announced two other appointments in the team.
Segregated Funds Group (SFG), the Indian investment arm of real estate firm Jones Lang LaSalle (JLL), has raised INR120 crore ($18 million) at the first close of its new lending vehicle, Residential Opportunities Fund-II (ROF-II). The new fund is targeting up to INR300 crore.