Aeneas Capital and Pyrinas are launching a fund that will acquire and develop co-working space and incubator facilities for the life sciences sector in the United States. The target of Pyrinas US Healthcare Real Estate Fund 1 SP is $120 million.
HONG KONG–(BUSINESS WIRE)–Aeneas Capital and Pyrinas, both affiliated companies to Aptorum Group Ltd (Nasdaq: APM), is launching its flagship fund – Pyrinas US Healthcare Real Estate Fund 1 SP – to acquire and develop co-working space and incubator facilities for the life sciences sector in the United States;
Opportunity to invest in one of the most vibrant real estate sectors in the U.S. that is currently not available in most of the Asia Pacific countries. A great geographical and asset class diversification of Asia Pacific real estate investment;
Tap into the life sciences sector that generally has one of the highest barriers to entry amongst different industries;
Experienced and unique advisory/management team in this specific sector with established operation track record.
Aeneas Capital Limited (“ACL”) and Pyrinas Real Estate Management Limited (“Pyrinas”), based in Hong Kong, is launching a US$120m innovative closed-ended property fund – Pyrinas US Healthcare Real Estate Fund 1 SP – with a geographical focus on selected cities across North America. Supported by the ecosystem of its affiliated company, Aptorum Group (Nasdaq: APM), the fund’s key investment objective is to acquire and redevelop real estate into shared laboratories and incubator facilities for life science sector start-ups, one of the most vibrant sectors in North America. The fund will focus its investments in primarily four North America mandated cities (namely Cambridge, Boston, Houston, and San Francisco in the United States and Toronto in Canada).
Mr. Matthew Wong, Chief Executive Officer of Pyrinas, commented, “These cities have been selected in view of several crucial factors that we believe are best positioned to take advantage of the robust growth in the life science industry. The fund will focus on acquisition and development of real estate suitable for the healthcare and life science sector, particularly in operating laboratories with a co-working space model. We are seeing increasingly robust demand for space by life science companies and start-ups, who are encouraged by the rapidly growing venture capital investment market in North America.”
The fund is targeting a launch size of up to US$120 million with a targeted return of 15-19% per annum (Net IRR) over a period of four years with one-year extension. Pyrinas is currently in discussions with a number of institutional investors and collaborative partners.
Together with its affiliated company Aptorum Group Limited (Nasdaq: APM) and Aeneas Capital, the fund also aims to nurture medical research, the development of intellectual property, and collaboration between scientists, researchers, investors, and industry participants; while providing real estate solutions that foster an ecosystem for collegial interactions among industry, investors, government and academia.
The fund is targeted for institutional and professional investors only and subject to restrictions in certain jurisdictions.
About the Group
Pyrinas Real Estate Management Limited (”Pyrinas”), the real estate arm of Aeneas Group and an affiliate of Aptorum Group, was established in 2018. Pyrinas currently is managing two laboratory facilities and one clinic facility in Hong Kong. For more information about Pyrinas, please visit www.pyrinasgroup.com.
Aeneas Group Limited, the parent company of Aeneas Capital Limited (“ACL”), is a multi-disciplinary financial institution with cross border capabilities and technology services. For more information about Aeneas Group Limited, please visit www.aeneasgroup.com.
Aptorum Group Limited (Nasdaq : APM) is a biopharmaceutical company currently developing a portfolio of therapeutic candidates and medical devices, and is dedicated to developing and commercializing its portfolio of technologies to tackle unmet medical needs observed globally. For more information about Aptorum Group Limited, please visit www.aptorumgroup.com.