aberdeen-launches-asian-fund-of-property-funds

Aberdeen launches Asian fund of property funds

The property arm of Aberdeen Asset Management hires Kang Puay-Ju to run its Singapore operations.
An Asian fund of property funds is being launched by Aberdeen Property Investors, the property unit of Aberdeen Asset Management. The fund is scheduled to close in September 2006 with a 12 year tenor, and target fundraising is $600 million with minimum subscriptions of $10 million.

The fund will be managed from Singapore by Kang Puay-Ju, who will work in conjunction with Stockholm-based fund manager Bo Ljunglof. Kang joins Aberdeen from Dutch institutional investor ABP, where she had been working as a senior portfolio manager, establishing that fundÆs private real-estate investment business in Asia.

For this new fund, the estimated target internal rate of return ranges between 13-17% before performance fees. The fund aims...
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