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BlackRock last week disclosed an additional capital raise for its fifth Asia real estate fund, positioning the asset management giant to gain from a recovery in the regional economy once the COVID-19 crisis fades into the background.
In a filing with the US Securities and Exchange Commission on 8 December, BlackRock said it had raised an additional $52.9 million for its Asia Property Fund V, a value-add vehicle set up last year to invest in commercial real estate assets in Australia, Japan, Singapore, China and Hong Kong.
“We expect persistent inflows to Asian assets as many global investors remain underinvested and China’s weight in global indexes grows,” BlackRock said in its 2021 global outlook released earlier this month.