ARA Asset Management has announced that the group has successfully raised US$325 million in capital commitments for its private real estate funds division via a new separate platform.
A premier Asian-based sovereign wealth fund is the anchor investor of the platform and the new platform will be a closed-end fund with an initial term of 10 years, which may be extended.
The fund, which will be managed by ARA Fund Management, a wholly-owned unit of the group, has a mandate to invest in real estate assets across Asia. As at 30 June 2015, the group’s assets under management stood at approximately $26.9 billion.
Contributed by Shares Investment