Tan-Eu and SOCAM launch real estate JV

institutional LPs, believed to be under 5, contributed $200 million to the club, while SOCAM is co-investing $200 million for a combined partnership value of $400 million. According to a statement issued by the GP, the club will invest in special situations real estate projects in high-growth tier II cities in China, specifically focusing on residential and mixed-use developments. Tan-Eu Capital takes on the role of fund manager while SOCAM Asset Management Limited (HK), a division of SOCAM, will act as the asset manager.

"Given the difficult environment for raising capital for real estate investments over the past year, and given that this is a first-time fund, we are very excited to have closed on this transaction in such a short period of time," Rachel Renucci-Tan, founder of Tan-Eu Capital, said in a statement.

The companies add that following a "series of austerity measures" enacted by the Chinese government to curtail property prices, Tan-Eu Capital and SOCAM anticipate that small-to-medium-sized developers will particularly be affected, creating opportunities for private equity investment.

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• Topics
• Greater China
• Real estate
• CSRC