China’s Gaw Capital launches US arm
Gaw Capital Partners, the Hong Kong-based private equity real estate investor, has formed an office in the US. It plans to raise a $300-500 million dollar-denominated Fund in the fourth quarter.
The fund, targeting an investor base in both Asia and North America, will invest in office and hotel properties that Gaw Capital Partners will redevelop and restore in urban locations.
Timothy Walsh, the former chief investment officer and director of New Jersey Division of Investment, the state's $74 billion public pension fund, was named president and chief operations officer of Gaw Capital US.
"While the firm is already widely-respected for its successful operations in China and the Asia region, the new team that I will be leading at Gaw Capital US will specifically direct its resources on growth in the US market," said Walsh.
Through its associate, Downtown Properties, Gaw Capital Partners has been investing in US real estate since 1991. Its portfolio in Los Angeles, San Francisco, New York and Hawaii comprises more than 2.5 million square feet of office buildings, hotels, golf courses, a ski resort and residential redevelopment projects.
Gaw Capital Partners, focused on Greater China and Asia, has raised in excess of $3.2 billion since 2005. It currently manages $6.6 billion over four real estate funds.
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