{"id":96200,"date":"2024-09-26T00:00:00","date_gmt":"2024-09-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/adia-backs-sc-lowys-south-korean-real-estate-fund\/"},"modified":"2024-09-26T00:00:00","modified_gmt":"2024-09-26T00:00:00","slug":"adia-backs-sc-lowys-south-korean-real-estate-fund","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/09\/26\/adia-backs-sc-lowys-south-korean-real-estate-fund\/","title":{"rendered":"Adia backs SC Lowy\u2019s South Korean real estate fund"},"content":{"rendered":"

Adia backs South Korean real estate fund: <\/strong>The Abu Dhabi Investment Authority (Adia) invested an undisclosed amount in a South Korean real estate credit fund managed by alternative asset manager SC Lowy<\/a>, IPE Real Assets<\/a> reports. Adia made the investment \u2014 of which a \u201csignificant\u201d proportion has already been deployed \u2014 through a separately managed account, according to details of the transaction picked up by Preqin<\/a>.<\/p>\n

About the fund:<\/strong> SC Lowy\u2019s Strategic Investments Fund IV is an Asia Pacific-focused direct lending fund providing financing to South Korean-based developers, construction companies, and domestic financial institutions, focusing on residential, commercial, and logistics projects in major cities. It closed USD 130 mn at the start of 2024, and has a USD 500 mn target.<\/p>\n

What they said:<\/strong> \u201cWe see a huge [window] with stable returns of around 15% IRR and 1.5x [multiple on invested capital],\u201d SC Lowy chief strategy officer Lionel de Somer told Preqin. \u201cGiven the lack of private capital in Asia, a booming economy, the need for private credit will increase in the next couple of years,\u201d he added.<\/p>\n

REMEMBER- Adia is pouring more into alternative funds:<\/strong> Last week<\/a>, Adia shelled out funding for London-based credit investor Polus Capital Management<\/a>, while in June, the sovereign wealth fund made a USD 199.8 mn<\/a> investment in Australian real estate private credit company Qualitas Diversified Credit Investments, and an unspecified investment<\/a> in Jain Global. During the same month, an Adia subsidiary backed<\/a> European Pemberton Asset Management\u2019s new Nav strategic financing strategy.<\/p>\n","protected":false},"excerpt":{"rendered":"

The fund will focus on senior-secured lending<\/p>\n","protected":false},"author":1,"featured_media":96201,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1557],"tags":[1864,7,25,98],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-96200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-abu-dhabi-investment-authority-investment","tag-enterpriseam-uae","tag-investment-watch","tag-real-estate","wpautop","entry"],"acf":{"mongo_id":"8dfd2a16-f390-4a13-a3de-86ab7a1e28b6","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/160.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Adia backs SC Lowy\u2019s South Korean real estate fund","related_issue":[96184],"teaser":"The fund will focus on senior-secured lending","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.1a909b1e-081a-4f9a-8702-9ba4c40dbb0d.mp3"},"yoast_head":"\nAdia backs SC Lowy\u2019s South Korean real estate fund - 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