SilkRoad Achieves $549M Final Closing of 2nd Pan-Asia Fund
SilkRoad sold off a set of heritage shophouses in Singapore just last month
SilkRoad Property Partners on Wednesday announced the final closing of its latest real estate fund, Silk Road Asia Value Partners II (SAVP II), at $549 million, exceeding the investment manager’s $500 million target.
The company announced its latest financial milestone after having closed on six investments for the new vehicle, primarily in pandemic-resistant assets such as industrial and neighbourhood retail, according to a statement.
The closing came despite the COVID-19 crisis having led SilkRoad to extend the fund raising period for SAVP II, after the vehicle reached a first $377 million first closing in the fourth quarter of 2018.