Baker McKenzie has advised Gaw Capital Partners ("Gaw Capital") on the structuring, formation and successful closing of its sixth flagship Asia-Pacific real estate fund, Gateway Real Estate Fund VI ("Gateway Fund VI"), which raised USD 2.2 billion, after obtaining approval to exceed its original hard cap of USD 2 billion. The Firm also assisted Gaw Capital in securing additional sidecar commitments of USD 800 million to be deployed alongside the latest fund. Gateway Fund VI is Gaw Capital’s largest fund to date.
Gateway Fund VI will focus on real estate assets in Greater China, Japan, Vietnam, South Korea, Singapore, Southeast Asia and Australia. In addition to China’s primary gateway cities of Beijing, Shanghai, Guangzhou and Hong Kong, Gateway Fund VI will also back operating thematic platforms and pre-IPO real estate companies looking for strategic capital. The fund has already made several investments in these regions across a variety of sectors including residential, data centers, retail, and office, among others.
This deal adds to the long list of transactions on which the Firm has advised Gaw Capital, including the formation of a number of fund vehicles, co-investment vehicles, joint ventures and separate accounts.
The Baker McKenzie team was led by Partner Jason Ng, co-chair of the Firm's Global Investment Funds Group together with Hong Kong-based fund formation specialist, Edwin Wong. They were assisted by Hong Kong funds associates Julia Chia and Da Wang and were also supported by a global team of regulatory and tax lawyers including Karen Man, Pierre Chan and Grace Fung in Hong Kong, Stephanie Magnus and Dawn Quek in Singapore, Patricia McDonald, Addison Braendel, Michael Poland and David Gong in Chicago, Sam Kamyans and Dinh Tran in Washington DC, Catherine Martougin and Amelie Woltrager in Luxembourg, among others.
Commenting about the deal, Jason said, "We are pleased to have assisted our long-standing client to bring this deal to a successful close, which will provide new capital for Gaw Capital’s future acquisition of quality real estate assets across the Asia Pacific region."