During a media briefing, Hongkong Land’s group CEO, Michael Smith points out that his capital partners in SCPREF “are very focused on having a uniquely Singapore exposure. This vehicle is just Singapore, so we have no intention of expanding this vehicle, and our partners in the fund have no intention to expand.”
On Dec 12, Hongkong Land announced the formation of the Singapore Central Private Real Estate Fund (SCPREF) with $8.2 billion of assets under management at inception.
Hongkong Land will be the general partner and manager of the Fund, and hold a majority stake in SCPREF at inception, as a founding investor along with Qatar Investment Authority (QIA) and APG Asset Management (APG). Other investors in SCPREF include an established Southeast Asia sovereign wealth fund.
