Gaw Capital Partners announced the final close of its sixth Greater China/Asia Pacific real estate fund, Gateway Real Estate Fund VI, at $2.2 billion.
A Gaw Capital news release Wednesday said the Hong Kong-based manager, with $23 billion in assets under management as of June 30, also secured $800 million in "sidecar" co-investment commitments.
Fund VI's $2.2 billion came from both new institutional clients as well as clients invested in the firm's previous funds, with 46% based in Europe, 37% from Asia and 17% from North America, the news release said. The fund will mainly target real estate assets in Greater China, with select exposure in Japan, Vietnam, South Korea, Singapore, Southeast Asia and Australia.
In September, Texas Permanent School Fund, a $34.6 billion, Austin-based fund, committed $5 million to Gateway Real Estate Fund VI; $23 million to the Gateway VI co-investment (Direction) and $2 million to Gateway VI co-investment (Panorama.)
In November 2018, the $24.5 billion San Francisco City & County Employees' Retirement System committed $50 million to Gateway Real Estate Fund VI.