Hong Kong’s Gaw Capital acquires Waterside House


london city 15 gerkin_sqHong Kong-based private equity firm Gaw Capital Partners has made its fourth deal in London since 2010 by acquiring the Waterside House at Paddington alongside a group of South Korean investors in a $321m deal.

Gaw will now manage the Waterside House, which has a capacity of 237,800 square feet and is entirely occupied by Marks & Spencer, serving as the retail giant’s global headquarters.

Earlier this year Gaw advised on Chinese insurance group Ping An’s acquisition of the Lloyds of London Building.

Managing principal and head of capital markets at Gaw Capital Christina Gaw said, “These two London acquisitions build on the success we had advising the purchase of the Lloyd’s of London Building.

“There is definitely a growing demand from Asian institutional investors in safe commercial and residential real estate purchases abroad.”

Gaw has raised more than $3.5bn since 2005 and currently has assets under management of $7.47bn.

Last month the firm closed its fourth China real estate fund Gateway Real Estate Fund IV on its $1.025bn hard cap.

Gaw brought its assets under management to more than $7bn through the fund close, and is also targeting up to $500m for a US commercial real estate vehicle.

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