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ARA raises US$325 million for private real estate funds division

ARA Asset Management on Monday said it has successfully raised US$325 million in capital commitments for its private real estate funds division.

The capital commitments were raised via a new separate platform. The anchor investor of the platform is a premier Asian-based sovereign wealth fund, it said.

The new platform will be a closed-end fund with an initial term of 10 years, which may be extended. The fund has a mandate to invest in real estate assets across Asia, including Australia, Singapore, Hong Kong, China and Japan.

The fund also comes with the option to upsize its capital commitment.

As at June 30, 2015, ARA's total assets under management stood at S$26.9 billion.

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