Private Investor Raises Far Eastern Real Estate Fund

Private equity firm Carlyle Group has raised $410 million that it will use to invest in Asian real estate. Carlyle already has six global real estate funds with $4 billion. As for actual real estate, the firm currently owns just four Asian properties: A pair of office buildings in Seoul; an industrial property near Tokyo; and an office property in Saitama City, Japan.

In 2004, the Washington, D.C.-based firm began buying commercial properties in Japan. The new fund will focus on commercial real estate investments in China, Japan and South Korea.

Ten Carlyle executives based in Beijing, Hong Kong, Seoul, Shanghai and Tokyo will be in charge of finding office, retail, residential and industrial properties in those three markets.

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