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Gaw Capital

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Gaw Capital (Chinese: 基滙資本) is a real estate private equity fund management firm headquartered in Hong Kong.

Gaw Capital
Native name
基滙資本
Company typePrivate
IndustryPrivate equity real estate
Founded2005; 19 years ago (2005)[1][2]
FoundersGoodwin Gaw[1][2]
Kenneth Gaw[1][2]
HeadquartersHong Kong[1][2]
AUMUS$33.6 billion (Q3 2022)[3]
Websitewww.gawcapital.com
Footnotes / references
[4]

In 2022, the firm was ranked by PERE (under Private Equity International) as the 11th largest Private Equity Real Estate firm based on total fundraising over the most recent five-year period.[5]

Background

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Gaw Capital was founded in 2005 by Goodwin Gaw and his brother Kenneth Gaw.[1][2] Their father was Anthony Gaw, the founder of Pioneer Global Group, a listed Hong Kong real estate development company.[1][2]

The firm's investments span the entire spectrum of real estate sectors, including residential development, offices, retail malls, serviced apartments, hotels, logistics warehouses and IDC projects.[6] In recent years the firm has also invested in Property technology companies such as Beike, SensorFlow and Ziroom.[7][8]

Gaw Capital is headquartered in Hong Kong with offices in London, Shanghai, Singapore, Seoul, Tokyo, Los Angeles, San Francisco and Seattle.[9][10]

Previous investments have included Ambassador East,[11] Cityplaza,[12] Columbia Center,[13] InterContinental Hong Kong,[14] Lloyd's building,[15] Novotel Nathan Road Kowloon Hong Kong,[16] Paddington Waterside,[17] Ovation Hollywood,[18] People's Place[19] and The Standard High Line hotel.[20][21]

Funds

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Fund[22] Vintage Year Fund Size ($m)
Gateway China Fund I 2005 200
Gateway Capital Real Estate Fund II 2007 800
Gateway Real Estate Fund III 2010 420
Gateway Real Estate IV 2013 1,000
Vietnam Fund 2015 69.8
Gaw Hospitality Fund I 2016 151.3
Gateway Real Estate Fund V 2017 1,300
Gaw Capital European Hospitality Fund I 2018 224.4
Gateway Real Estate Fund VI 2019 2,200
Gaw Growth Equity Fund I[7][8] 2020 430
Gateway Real Estate Fund VII[23] 2023 3,000

Controversies

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Email fraud

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In December 2017, Gaw Capital transferred HK$39 million ($5 million) from a client's bank account to the bank account of a fraudster.[24] The fraudster posed as a client and sent instructions to the firm for the withdrawal of funds.[24] The firm discovered what had happened after the actual client contacted it.[24] A spokesperson for Gaw Capital stated the bank account in question was frozen and most of the funds transferred were retrieved.[24]

Lawsuit over The Standard High Line hotel

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In November 2017, Gaw Capital acquired The Standard High Line hotel in New York for $323 million.[20] In November 2021, Wells Fargo and Apollo Global Management sued Gaw Capital in attempt to foreclose the hotel after the firm failed to make payments on a $170 million loan since May 2020.[21][25] Gaw Capital stated that the fault lied with Apollo Global Management who refused to accept the firm's settlement offer and put financial greed above all the other parties.[21][25]

References

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  1. ^ a b c d e f "How the famous Hollywood Roosevelt regained its glory". South China Morning Post. 13 June 2017.
  2. ^ a b c d e f Wells, Jennifer. "HK Property Investor Goodwin Gaw Spies World Of Bargains On The Horizon". Forbes.
  3. ^ "Gaw Capital Partners - Gaw Capital". www.gawcapital.com. 31 March 2021.
  4. ^ "Form ADV" (PDF). SEC. Retrieved 24 November 2022.
  5. ^ "The PERE 100 bounces back" (PDF). Harrison Street. 2022.
  6. ^ "Gaw Capital Partners - Gaw Capital". www.gawcapital.com. 31 March 2021. Retrieved 12 December 2022.
  7. ^ a b "A $30 Billion Fund Piles Into Hong Kong's Office Market". Bloomberg.com. 29 June 2021. Retrieved 29 June 2022.
  8. ^ a b "Gaw Capital Raises $332M for Gaw Growth Equity Fund I". Mingtiandi. 29 May 2021. Retrieved 29 June 2022.
  9. ^ "Contact Us - Gaw Capital". www.gawcapital.com. 9 April 2021. Retrieved 29 June 2022.
  10. ^ "Gaw Capital USA". Gaw Capital USA. Retrieved 11 July 2022.
  11. ^ "Rebranding of Public hotel brings back part of famed name: Ambassador". Chicago Tribune. Retrieved 29 June 2022.
  12. ^ "Gaw, Schroder Pamfleet Buy CityPlaza One From Swire". Mingtiandi. 9 November 2020. Retrieved 29 June 2022.
  13. ^ "Columbia Center sold to Hong Kong investors". The Seattle Times. 7 August 2015. Retrieved 29 June 2022.
  14. ^ "Gaw's Pioneer Global Invests $118 Mil in Intercon". Mingtiandi. 4 April 2017. Retrieved 29 June 2022.
  15. ^ "Hong Kong's Gaw, South Korean investors buy London building". Reuters. 21 November 2013. Retrieved 29 June 2022.
  16. ^ "Gaw Capital, CSI team up for Kowloon hotel buy". South China Morning Post. 4 April 2012. Retrieved 29 June 2022.
  17. ^ "Gaw Capital Partners Acquires Waterside House at Paddington London - PR Newswire APAC". en.prnasia.com. Retrieved 29 June 2022.
  18. ^ "Hollywood & Highland is getting a big makeover that includes turning stores into offices". Los Angeles Times. 5 August 2020. Retrieved 29 June 2022.
  19. ^ "Rent rises not 'winning formula', says new owner of Link Reit malls". South China Morning Post. 28 March 2018. Retrieved 29 June 2022.
  20. ^ a b "Gaw Buys Manhattan's Standard Hotel for $323M". Mingtiandi. 2 November 2017. Retrieved 29 June 2022.
  21. ^ a b c "Gaw Capital Sued by Wells Fargo, Apollo Over High Line Hotel". Mingtiandi. 17 November 2021. Retrieved 30 June 2022.
  22. ^ "Gaw Capital | Palico". www.palico.com. Retrieved 29 June 2022.
  23. ^ "Gaw Capital Raises $1.2B for Gateway Real Estate Fund VII". Mingtiandi. 17 November 2021. Retrieved 29 June 2022.
  24. ^ a b c d "Firm that bought 17 shopping malls loses HK$39 million in scam". South China Morning Post. 19 December 2017. Retrieved 30 June 2022.
  25. ^ a b "Wells Fargo Sues to Foreclose on Standard High Line Hotel". Bloomberg.com. 12 November 2021. Retrieved 30 June 2022.
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