MAS names sustainability head; Malaysia’s EPF appoints COO and CFO; GIC PE head for SEA leaves; State Super hires new exec; Hesta appoints chief growth officer, chief Debby Blakey appointed to corporate governance board; ex-BlackRock exec joins IQ-EQ in Singapore; HSBC AM builds direct real estate team; ex-Vanguard head of distribution joins LGIM; Sanne names Singapore head; and more
The new fund will be managed locally by William Shaw, a Hong Kong-based director of Composition Capital. Before joining Composition Capital, he worked for Lowe Enterprises, where he supervised urban property developments in Beijing and Shanghai.
This is CompositionÆs second Asia-themed property fund. It has a similar strategy and risk/return profile to its predecessor, Composition Capital Asia Fund C.V, which was launched in 2005.
The fund has target returns in excess of 15% and will invest in non-listed real estate investment vehicles, including private funds, secondary transactions and joint ventures with local partners.
That first Asian fund invested in a diversified portfolio of ten investments in non-listed vehicles across Asia with a main focus on Japan, South-Korea and China. It operates alongside a sister fund which concentrates on the European property markets, primarily UK, France, Italy and Germany and the former eastern bloc.
The fund launches with a US$ 100 million commitment from an institutional investor. Capital raising will now proceed, with a target fund size of $400 million.
Composition Capital Partners manages over $700 million. It has established a ôfund of fundsö property investment strategy, creating and managing global real estate portfolios comprised of private equity investments.
Investors are increasingly turning to private companies and private debt in their hunt for ESG alpha, but the age-old problem of transparency and due diligence remains
Already on the rise pre-Covid, investments into data centre assets in Asia have accelerated in the past year, fuelled by interest from investors across the spectrum.
Actively managed funds were also not found to have better odds of higher returns than more passive funds.
Investors still favour private equity assets for their higher growth, better governance structures, and diversification potential.