Hong Kong's Gaw Capital raises $1 bln China real estate fund


HONG KONG, Oct 30 (Reuters) - Hong Kong-based private equityfirm Gaw Capital Partners said on Wednesday it has raised a$1.025 billion real estate fund for investment in China, itsbiggest ever fund.

Gaw plans to invest at least 80 percent of its Gateway RealEstate Fund IV in Greater China and 20 percent elsewherein Asia.

It will target the fund toward "gateway" cities such asBeijing, Shanghai, Hong Kong and Taipei, as well as cities withstrong economic fundamentals and long-term real estate demand,such as in Jiangsu province.

Gaw will focus the fund on city centre retail assets withhigh pedestrian traffic and centrally located commercial assetsin tier I and tier II Chinese cities, where the government'spolicy to stop property prices rising too quickly has createdattractive pricing.

Gaw, which has $7.1 billion in assets under management,recently launched Gaw Capital Partners USA to raise up to $500million to invest in U.S. commercial real estate. (Reporting by Stephen Aldred; Editing by Christopher Cushing)

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