SUBSCRIBERS

Allianz, Korean pension service set up Asia-Pac property fund

With leverage, fund to have US$4.6b war chest; focus will be on Singapore, Japan, Australia, China and Hong Kong

Kalpana Rashiwala

Published Sun, Jun 28, 2020 · 09:50 PM

Singapore

ALLIANZ has teamed up with The National Pension Service of Korea (NPS) to set up a property fund with US$2.3 billion equity. With leverage, the fund will have the capacity to invest in US$4.6 billion of real estate in the Asia-Pacific region.

Allianz group of companies and South Korea's NPS will contribute 50:50 to the closed-end fund's equity. In addition, Allianz Real Estate is the investment manager and general partner of the fund, Allianz Real Estate Asia-Pacific Core I (AREAP Core I).

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes