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Invesco Launches $500M Asian Real Estate Fund

Invesco Real Estate just launched a $500M real estate fund in Asia in another step to expand its high-yield business in the Far East. The news comes on the heels of the appointment of Calvin Chou—the former head of Morgan Stanley Real Estate Investing in China—to lead Invesco's opportunistic funds business in the region. So far, Invesco has raised $100M—with expected returns in the 18% range—which will be spent across Japan, Australia, Seoul and China. Invesco already runs a pan-Asian open-ended core real estate fund, which has raised $500M to date. The firm hopes to reach $1B in five years. [PERE]

Related Topics: Asia, Opportunity Fund, Calvin Chou