APG, on behalf of its pension fund client ABP, will invest in the Singapore Central Private Real Estate Fund (“SCPREF” or the “Fund”), an inaugural fund launched by Hongkong Land Holdings Limited (“Hongkong Land”).
SCPREF is Singapore’s largest office-focused private investment platform comprising best-in-class integrated commercial assets. The Fund has SG$8.2 billion (US$6.3 billion) in assets under management at inception, with APG contributing 15% of the total, equating to an initial commitment of over EUR420 million (SG$630 million/US$500 million).
The anchor investment in SCPREF provides APG and its client ABP with long-term income exposure, governance and strategic oversight across an expanding portfolio of iconic commercial properties aligned to global sustainability standards.
“APG’s proven private market partnership model with fellow asset owners and best-in-class operators enables privileged access at scale to a bespoke collection of top-tier commercial assets. Singapore is a premiere destination for the world’s leading businesses, and the Fund serves as an unrivalled platform for increased institutional participation and market exposure at the core of a major global financial hub,” said Brian Hung, Managing Director, Head of Real Estate, Asia-Pacific at APG Asset Management.
With a focus on Core and Core-Plus opportunities, APG’s Real Estate strategy delivers stable multi-decade returns as Asia’s major business and financial centres benefit from sustained urbanization, an expanding middle class, and diverse innovation ecosystems. APG continues to expand its institutional grade portfolio in Asia Pacific, with the world’s largest real estate market by region benefiting from a substantial, growing volume of major commercial, financial and innovation centres.