Global private equity investor Actis on Wednesday said it has marked the final close of its Actis Asia Real Estate 2 (AARE2) fund at $700 million, which will invest in real estate that enables new economy across Asia including India.
The $700 million raised represents Limited Partner (LP) fund and co-investment commitments, said Actis in a statement.
Investable capital may go up to $1 billion on the back of additional co-opportunities during the life of the fund, it added.
Both existing and new LPs invested in the fund, it said.
The fund continues Actis’ track record in the Asia real estate sector, it said.
In Asia, the fund will invest in key geographies including China, Korea, India and Southeast Asia, with focus on Vietnam, it added.
Notably, the fund has already made 50% of its commitments. The fund has a strong pipeline of investments in the logistics, industrial, specialised office and data centres spaces, it explained.
“This fundraise is a key step in our strategic goal to transform infrastructure for a better tomorrow, by leveraging our expertise as builders and operators, creating sustainability leaders and unlocking global opportunities wherever we find them," said Torbjorn Caesar, Senior Partner at Actis.
In India, Actis sold its entire equity share in Intellion Square, Mumbai, to Tata Realty & Infrastructure Ltd (TRIL) in an all cash deal in September last year.
Earlier this year, the Mint reported that Actis is in advanced talks to acquire as many as six road assets from BK Goenka led Welspun group’s infra arm Welspun Enterprises Ltd for an enterprise value of around Rs8,000-10,000 crore.
In October last year, Actis hit the final close of its fifth Energy fund at $4.7 billion, exceeding its $4 billion target. Of the total amount raised, it said it will earmark $850 million for India to be invested over four or five years.