PGGM is among the backers of 鈥檚 $1.3bn (鈧�1.2bn) pan-Asian core-plus real estate fund.
The Dutch asset manager, along with Allianz, is investing in PAG鈥檚 Real Estate Partners Fund, which raised $300m more than its target.
Broderick Storie, a partner at PAG, said: 鈥淲e enjoy strong ongoing support from our investors, which we are very grateful for.鈥�
The company is targeting core-plus assets in nine gateway cities in Asia.
The fund, nearly 50% invested, will focus on Japan, China, Australia, South Korea and Hong Kong.
鈥淎s with all our strategies,鈥� Storie said, 鈥渙ur focus remains to ensure we continue to drive and maximise investment performance and maintain best-in-class fiduciary standards.鈥�
