Key Takeaways
- • PAG announced the final close of SCREP VIII, its 10th Asia Pacific-focused opportunistic real estate fund, at USD4 billion in total capital commitments including co-investment capital, on February 13, 2025.
- • The fund exceeded its USD3.5 billion main-fund target and is described by PAG, citing Preqin data, as the largest USD-denominated real estate fundraise dedicated to Asia Pacific over the past 12 months.
- • Investors are primarily pensions and sovereign wealth funds from North America, Europe, the Middle East and Asia Pacific, with a high proportion of repeat investors.
- • SCREP VIII will target property and debt opportunities across developed Asia, with its largest presence in Japan and sector exposure to data centers, logistics, offices, multifamily and distressed debt.
Summary
PAG, the Asia-Pacific focused alternative investment firm, announced the final close of SCREP VIII with USD4 billion in total capital commitments, including co-investment capital. According to the firm, citing Preqin data, this is the largest US dollar-denominated real estate fundraising dedicated to Asia Pacific over the past 12 months. The main fund exceeded its USD3.5 billion target, and the fund attracted a high portion of repeat investors alongside significant interest from new investors.
Investors are primarily pensions and sovereign wealth funds from North America, Europe, the Middle East and Asia Pacific. SCREP VIII is the tenth fund in PAG Real Assets' opportunistic series, a platform the firm says has a 28-year track record investing in Asia Pacific. The fund focuses on property and debt investments across developed Asian markets, with its largest investment presence in Japan. It plans to deploy capital across data centers, logistics, offices, multifamily and distressed debt.
The SCREP strategy seeks discounted opportunities through hard assets and distressed debt, and may also participate in real estate developments, high-yield bridge financing and platform equity. Beyond Japan, the fund invests in other regional markets including Australia and South Korea.
Jon-Paul Toppino, President and Co-Founder of PAG, said the firm believes the Asia Pacific real estate sector presents tremendous growth opportunities, and cited the firm's local presence in key markets as central to navigating complex regional dynamics. PAG Real Assets, founded in 1997 as Secured Capital Japan, reports more than $45 billion invested in Asia Pacific, over 7,400 properties acquired and managed, and 170 professionals across seven offices. PAG overall manages more than USD55 billion across private equity, real assets and credit and markets for 300 institutional investors.
Investors are primarily pensions and sovereign wealth funds from North America, Europe, the Middle East and Asia Pacific. SCREP VIII is the tenth fund in PAG Real Assets' opportunistic series, a platform the firm says has a 28-year track record investing in Asia Pacific. The fund focuses on property and debt investments across developed Asian markets, with its largest investment presence in Japan. It plans to deploy capital across data centers, logistics, offices, multifamily and distressed debt.
The SCREP strategy seeks discounted opportunities through hard assets and distressed debt, and may also participate in real estate developments, high-yield bridge financing and platform equity. Beyond Japan, the fund invests in other regional markets including Australia and South Korea.
Jon-Paul Toppino, President and Co-Founder of PAG, said the firm believes the Asia Pacific real estate sector presents tremendous growth opportunities, and cited the firm's local presence in key markets as central to navigating complex regional dynamics. PAG Real Assets, founded in 1997 as Secured Capital Japan, reports more than $45 billion invested in Asia Pacific, over 7,400 properties acquired and managed, and 170 professionals across seven offices. PAG overall manages more than USD55 billion across private equity, real assets and credit and markets for 300 institutional investors.
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