Hong Kong – Thursday, 18 June 2015 – CLSA Capital Partners is pleased to announce the final closing of Fudo Capital III (“Fudo III” or “the Fund”) on 5 June 2015, capping the fundraise with US$1 billion of total equity commitments.
Fudo III had an original target of US$850 million for the value-added investment vehicle which focuses on acquiring all real estate property types throughout Asia- Pacific. Fudo III received commitments from pension funds, sovereign wealth funds, endowments, asset managers and insurance firms from North America, Asia, Europe and the Middle East.
John Pattar, CLSA Capital Partners Managing Director and head of the Fund, comments: “We are confident that the Asia-Pacific region will continue to yield highly attractive investment opportunities going forward. Each country we invest in presents distinct opportunities unique to their respective cycles which create a diversified and complementary portfolio of real estate across Asia-Pacific. Exceeding our original target of US$850 million to reach the Fund’s hard cap of US$1 billion is a testament to continued investor interest in participating in the region’s compelling growth story.”
Fudo III is CLSA Capital Partners’ third value-add Asia-Pacific real estate fund. Fudo III focuses on value enhancement strategies through re-positioning, re-development / development, re-leasing and refurbishment of assets located in first tier cities throughout Asia-Pacific including Japan, China, Australia, Hong Kong, Singapore, Taiwan and South Korea.
“We believe the Fund is well positioned to take advantage of the current opportunities across the Asia-Pacific region, as exemplified by our robust priority pipeline of distressed and undervalued assets located in Tokyo, Shanghai, Beijing and Hong Kong. Our investors are already experiencing the positive results first hand,” Pattar said. To date, Fudo III has already deployed over 25% of total fund commitments into office, retail and logistics assets in Hong Kong, Nagoya, Shanghai and Tokyo.
A key differentiating characteristic of Fudo III is its preeminent sponsorship by CLSA Capital Partners and parent company CLSA, Asia’s leading independent brokerage and investment group, with a broad network of contacts and an award-winning research franchise in Asia-Pacific. Fudo III will continue to leverage CLSA’s integrated investing and operating platform and regional network to source value-added growth opportunities in the real estate investment space.
Greenhill’s Real Assets Capital Advisory group acted as exclusive placement agent and financial advisor to the Fund.