PGGM is among the backers of βs $1.3bn (β¬1.2bn) pan-Asian core-plus real estate fund.
The Dutch asset manager, along with Allianz, is investing in PAGβs Real Estate Partners Fund, which raised $300m more than its target.
Broderick Storie, a partner at PAG, said: βWe enjoy strong ongoing support from our investors, which we are very grateful for.β
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.
βAs with all our strategies,β Storie said, βour focus remains to ensure we continue to drive and maximise investment performance and maintain best-in-class fiduciary standards.β
