Asia-Pacific

The New York-based firm’s Korean investors include the National Pension Service of Korea, which has invested in at least two of its funds.

Co-led by Warburg Pincus’s former partner Joe Gagnon, the firm deployed approximately 40% of Fund I’s capital in 2024.

Kelvin Cheung will lead the fund management business at alternative investment firm Sun Hung Kai & Co, Private Equity Real Estate has learned.

One investment theme in the region has been executing large transactions with Japanese corporations shedding non-core real estate.

Participation from US investors declined compared with the fund’s predecessor, but the manager benefited from new capital sources in Asia.

The new recruit follows a wave of senior appointments globally including the return of its Asia real estate CIO Kenny Lam in 2023.

The firm is also in the market with its Australia debt vehicle, which is expected to reach a final close at the end of 2025.

While not everyone is on board the fastest-moving train in private real estate, some just need a little more time to see where it is headed.

The Australian super fund’s head of real estate says his team will be asking their partners ‘challenging’ questions amid protracted market difficulties.

The Australian super fund’s senior portfolio manager said the investor will focus on developing a strategy for the two regions over the next year.