BlackRock Real Estate closes fifth Asia property fund at $1.2b, surpassing target
Photo: Pradeep Gaur/Mint
March 2, 2021
BlackRock Real Estate, the realty investment management arm of global investment manager BlackRock, has closed its fifth Asia-focused fund with capital commitments amounting to $1.175 billion, it announced on Tuesday.
The fifth fund, BlackRock Asia Property Fund V, which invests in real estate assets across Asia Pacific, was oversubscribed and surpassed its $1 billion target, the investment firm said in a statement.
The fund’s investors include new and existing institutional investors across Europe, Asia, and the Americas comprising private pension funds, insurance companies, sovereign wealth funds, family offices, and endowments. In addition, 75% of clients in the predecessor fund invested in the fifth fund, the statement added.