Four months after completing its takeover of SEB Asset Management, Savills Investment Management is poised to launch a billion-dollar Asia core-plus fund.
The new vehicle, to be known as Savills IM Asia Fund 3, is expected to be launched in the second half of 2016, according to «IPE Real Estate». It will be the successor to Savills Asia Fund II, a closed-ended fund formerly known as SEB Asia Fund II which was launched before Savills IM’s takeover of SEB.
The fund will focus on investing in Australia, Japan, Hong Kong, Singapore and China markets the firm believes can offer stable cash flows and reasonably strong fundamentals over the long term.
Swedish History
Equity will be sourced principally from Europe and the US. Some money will also come from Asia, depending on how much the fund invests in particular countries.
Savills IM, which previously traded as Cordea Savills, bought out the real estate funds management platform of the Swedish bank SEB in a deal finalised last September.
