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Hines, the international real estate firm, has launched a $400 million Hines Asia Property Partners' fund, its “flagship fund” for Asia-Pacific.
The capital comes from Cadillac Fairview, the property investment arm of Ontario Teachers’ Pension Plan. The fund will be a multi-sector, open-ended vehicle targeting markets in Japan, Australia, South Korea, Singapore and China (including Hong Kong).
HAPP intends to invest in logistics, office, living, retail and select niche sectors.
Cadillac Fairview is the lead founding investor.
Hines has operated in Asia for decades; it first entered China more than 25 years ago. Since 1996, it has expanded through 13 cities across Australia, China (including Hong Kong), India, Japan, South Korea and Singapore. It has $5.3 billion of assets under management.