HONG KONG—A US-based pension fund is among the heavy-hitter investors who contributed to a Pan-Asia real estate venture that closed its fund at $362.5 million.
Chelsfield Asia Fund 1, also referred to as CAF 1, will target properties that offer investors considerable value-add potential in Hong Kong, Shanghai, Singapore and Tokyo.
Chelsfield Asia Fund 1 is part of Chelsfield Asia Ltd., the Asia subsidiary of U.K.-based real estate investment, development and management firm Chelsfield Group Ltd. that has ventures worldwide. Chelsfield Group was founded by British property developers Elliott Bernerd, who is Chelsfield chairman, and Sir Stuart Lipton.
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Lidia Dinkova
Lidia Dinkova covers South Florida real estate for the Daily Business Review. Contact her at [email protected] or 305-347-6665. On Twitter @LidiaDinkova.
