September 13, 2021 - Boston, MA
AEW Capital Management is pleased to announce the final closing of its fourth Asia Pacific value-add fund, AEW Value Investors Asia IV (“VIA IV”), with commitments totaling $1.54 billion, inclusive of dedicated client and third-party co-investment capital.
The $1.54 billion of capital raised for the fund exceeded its target capital raise of $1.2 billion, with commitments coming from a diverse group of public and private pension funds and insurance companies based in Europe, the US and Asia Pacific. VIA IV has a total of 18 limited partners including a strong re-up rate from investors that committed to the predecessor fund, as well as new investors. The predecessor fund was capitalized with $1.12 billion, inclusive of co-investment capital, and that vehicle made its final investment in 2019.
“We are grateful to our investors for their ongoing support especially during such an unprecedented period. VIA IV successfully surpassed the original target of $1.2 billion, with more than 80% of the committed capital coming from investors in our predecessor fund, VIA III. This result not only reflects a sustained interest in institutional real estate in Asia Pacific among investors, but also shows confidence in AEW’s execution in implementing a targeted value-add strategy.” said David Schaefer, CEO Asia Pacific for AEW.
VIA IV is set to continue AEW’s value-add focus on the acquisition of primarily logistics, multi-family and office assets in key gateway cities across the Asia Pacific region, principally Singapore, Seoul, Beijing, Shanghai, Hong Kong, Sydney, Melbourne, Tokyo and Osaka. The Fund is seeking to create value and drive overall returns through the repositioning, redevelopment, releasing and refurbishment of commercial assets.
“With local teams on the ground, we continue to source compelling opportunities around our highest conviction investment themes. To date, VIA IV is approximately 30% invested with four investments to date, including logistics and mixed-use office assets in Beijing, Melbourne, Seoul and Singapore. With a robust pipeline of investments that are under exclusivity already in Tokyo multi-family, Hong Kong industrial office, and Seoul logistics, we expect the fund to be close to 50% committed by year end,” added Jason Lee, CIO Asia Pacific for AEW and VIA IV’s Senior Portfolio Manager.
Founded in 1981 and celebrating its 40th anniversary, AEW Capital Management, L.P. (AEW) provides real estate investment management services to investors worldwide. One of the world’s leading real estate investment advisors, AEW and its affiliates manage approximately $88.6 billion of property and securities in North America, Europe and Asia (as of June 30, 2021). Grounded in research and experienced in the complexities of the real estate and capital markets, AEW actively manages portfolios in both the public and private property markets and across the risk/return spectrum. AEW and its affiliates have offices in Boston, Los Angeles, London, Paris, Düsseldorf, Hong Kong, Seoul, Singapore, Sydney and Tokyo, as well as additional offices in eight European cities.
Gross asset value as of June 30, 2021. Total AEW AUM of $88.6 billion includes $42.1 billion in assets managed by AEW SA and its affiliates and $246 million in advisory/subadvisory, wrap and other accounts for which AEW Capital Management provides only a model portfolio.
For additional information, please contact Brian Lambert, AEW, at 1-617-261-9501 or Brian.Lambert@aew.com.