Aquilius Raises $1.1B Asia Pacific Real Estate Secondaries Fund

Aquilius Investment Partners, a Singapore-based firm founded in 2021 by veterans from Partners Group and Blackstone, has raised a record $1.1 billion for its second Asia Pacific real estate secondaries fund, making it the largest of its kind in the region. The flagship AIP Secondary Fund II alone secured over $750 million, surpassing its original $700 million target and reflecting strong demand from institutional investors such as sovereign wealth funds, pension funds, financial institutions, and family offices. The fund focuses on "new economy" real estate sectors including logistics, life sciences, data centers, hospitality, and residential living, and has already deployed about half of the capital across eight transactions. Aquilius's rapid growth and success highlight a generational buying opportunity amid market volatility, slow exits, and rising demand for liquidity in Asia's private real estate markets. Despite Asia accounting for about a third of global private market assets, it has historically seen less than 10% of secondaries capital allocation, positioning Aquilius as a leader in expanding this sector. Industry data forecasts the secondaries market to grow at an annual rate of over 13% through 2029, driven by investors' appetite for diversification and flexibility in alternative assets.