OTPP Capital Backs Hines Asia Property Partners Fund
Posted on 05/04/2021
Real estate giant Hines launched Hines Asia Property Partners (HAPP), the firm’s new flagship fund for the Asia-Pacific Region with US$ 400 million of capital from Cadillac Fairview, the real estate investment arm of Ontario Teachers’ Pension Plan (OTPP). The fund will be a multi-sector, open-ended, diversified vehicle targeting top-tier 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 to build a diversified portfolio targeting core plus returns and balancing yield and growth. By focusing on next-generation assets designed for future tenant demand, this fund will aim to capitalize on an attractive pricing environment and fundamental market shifts by leveraging Hines’ operating platform to create value at the asset level through active management and select development.
Cadillac Fairview is the lead founding investor.
Hines first entered in China over 25 years ago. Since 1996, Hines has expanded throughout 13 cities across Australia, China (including Hong Kong), India, Japan, South Korea and Singapore, with US$ 5.3 billion of assets under management.
Keywords: Ontario Teachers Pension Plan.