Alternative investment firm PAG, which focuses on the Asia-Pacific region, announced on the 14th that it has completed the establishment of the 'SCREP VIII' fund, totaling $4 billion, including co-investment capital.
According to global research firm Preqin, this is the largest U.S. dollar-denominated real estate fund raised in the Asia-Pacific region over the past 12 months. The fund exceeded its target of $3.5 billion. Major investors include pension funds and sovereign wealth funds from North America, Europe, the Middle East, and the Asia-Pacific region.
This fund is the 10th fund in the opportunity-seeking fund series managed by PAG Real Assets. PAG Real Assets has been active in the Asia-Pacific region for 28 years. The fund has the largest investment focus in Japan and is concentrated on real estate and bonds in advanced Asian markets such as South Korea, Australia, and New Zealand. It plans to invest in various institutional sectors including data centers, logistics warehouses, offices, dwellings, and distressed bonds.
The SCREP fund series is an opportunity-seeking real estate fund that focuses on real estate and bonds in advanced Asian markets. It is based on a strategy that accesses discounted opportunities in physical assets and distressed bonds through real estate development, high-yield short-term financing, and platform equity investments.
PAG manages more than $55 billion in capital across private equity, real estate, credit, and market sectors, targeting over 300 institutional investors worldwide. PAG employs approximately 790 people in 15 major cities around the world.