SilkRoad raises USD 445 million for Asian Value Add Fund

SilkRoad raises USD 445 million for Asian Value Add Fund
For Immediate Release

June 10, 2016 – SINGAPORE-based private equity real estate firm SilkRoad Property Partners today announced the final close of its latest real estate fund, SilkRoad Asia Value Partners, at US$445.5 million, well in excess of its US$350 million target. The fund was launched in August 2014 and achieved its first closing on December 5, 2014 with a total amount of US$230 million. Its investors include insurance companies, endowments, pension funds and other top-tier institutional investors from Europe, North America and Asia. Peter Wittendorp, Managing Partner of SilkRoad Property Partners, said, “The success of our fundraising efforts is a vote of confidence by previous and new investors in the SilkRoad team, our track record and our investment strategy, despite challenging capital market conditions.” He added that the amount of capital raised from such a diverse investor base speaks to the growing appreciation from international investors of the role that a true value-add strategy in Asia can play in diversifying their existing portfolios. SilkRoad Asia Value Partners, which is the successor to a previous fund that was managed by SilkRoad Property Partners, will employ the same value-add investment strategy, targeting real estate assets that have favourable risk-return profiles in primarily Singapore, Hong Kong, Shanghai and Beijing. This strategy has proven to be a successful one for the company as it divested its previous fund with a realised net Internal Rate of Return (IRR) of 13.2% despite its pre-Global Financial Crisis vintage. SilkRoad Asia Value Partners has already made four investments in Singapore and Hong Kong. Through repositioning and re-tenanting, the investments are expected to generate IRRs of 16-18 per cent.

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