Phoenix collects $1.15 bln for Asia real estate fund


Phoenix Property Investors, a private equity real estate firm, has closed its sixth Asia real estate fund at $1.15 billion, beating its $900 million target. Phoenix Asia Real Estate Investments VI’s limited partners include endowments and foundations, pension plans and sovereign wealth funds, across Asia, North America, Europe and the Middle East. Monument Group was the placement agent.

PRESS RELEASE

HONG KONG, November 8, 2019 – Monument Group, one of the industry’s leading placement agents, has advised private equity real estate investment group, Phoenix Property Investors (“Phoenix”), on raising Phoenix Asia Real Estate Investments VI (“Fund VI” or the “Fund”). Fund VI had its final close on US$1.15 billion of commitments, including dedicated co-investment pools, exceeding its US$900 million target.

The investor base for Fund VI, which closed in September 2019, is comprised of leading institutional limited partners including endowments and foundations, pension plans and sovereign wealth funds, across Asia, North America, Europe and the Middle East.

“Fund VI is the third fund on which we have advised Phoenix and we are sincerely grateful for the opportunity to have again worked with their outstanding team,” said Robert Mast, a Managing Director at Monument Group. “There was substantial investor interest in Fund VI, owing to the team’s many years of experience as a value-oriented real estate investor. With the close of Fund VI, Phoenix is well positioned to continue its successful Pan-Asian property investment program.”

“Monument Group’s insight and strategic guidance, informed by a deep understanding of Phoenix, our investing approach, and our investor base, proved highly valuable in raising this fund,” said Benjamin Lee, Managing Partner of Phoenix Property Investors. “To date, we have committed to 17 investments from Fund VI, totaling approximately US$424 million. It was a pleasure to work again with Monument Group on a very successful and substantial fundraise.”

In addition to Fund VI, Monument Group advised Phoenix on its two predecessor Asia real estate funds, US$460,000,000 Fund IV (2010), and US$750,000,000 Fund V (2013).

About Phoenix Property Investors
Phoenix Property Investors is an experienced, independently-owned and managed private equity real estate investment group. Founded in 2002, Phoenix has an extensive track record of creating value and delivering results for its investors and stakeholders by investing in high-quality real estate opportunities in the residential, retail, office and commercial sectors across 15 first-tier Pan-Asian cities, assisted by its network of seven Asia-Pacific offices including Hong Kong, Tokyo, Seoul, Shanghai, Singapore, Sydney and Taipei.
Phoenix invests on behalf of global institutional investors, including sovereign wealth funds, public and corporate pension plans, foundations, university endowments, insurance companies and important family offices.

For more details, please visit www.ppinvestors.com.

About Monument Group
Monument Group is a leading, independent private fund placement agent managed by a senior team with significant buy-side investment heritage. Since its inception in 1994, Monument Group has assisted a range of general partners around the world to raise 99 funds, totaling more than US$100 billion of equity. These clients represent a broad variety of investment strategies including buyouts, debt, distressed, energy and natural resources, growth, infrastructure and real estate. Monument Group has offices in Boston, London, Hong Kong and Tokyo. Monument Group also has a strategic alliance with boutique secondaries advisor Mozaic Capital. For more information on Monument Group’s primary and secondary capabilities, visit www.monumentgroup.com.