Gaw Capital

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Gaw Capital
Native name
基滙資本
TypePrivate
IndustryReal estate
Private Equity
Founded2005; 18 years ago (2005)[1][2]
FounderGoodwin Gaw[1][2]
Kenneth Gaw[1][2]
HeadquartersHong Kong[1][2]
AUMUS$ 35.2 billion (Q1 2022)[3]
Websitewww.gawcapital.com

Gaw Capital (Chinese: 基滙資本) is a Real Estate investment firm headquartered in Hong Kong.

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.[4]

Background

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 primarily invests in real estate in China and Asia.[2] Almost half of its real estate investments are in Office space.[2] In recent years the firm has also invested in Property technology companies such as Beike, SensorFlow and Ziroom.[5][6]

Gaw Capital is headquartered in Hong Kong with offices in London, Shanghai, Singapore, Seoul, Tokyo and the United States.[7][8]

Previous investments have included Ambassador East,[9] Cityplaza,[10] Columbia Center,[11] InterContinental Hong Kong,[12] Lloyd's building,[13] Novotel Nathan Road Kowloon Hong Kong,[14] Paddington Waterside,[15] Ovation Hollywood,[16] Shek Lei Estate[17] and The Standard High Line hotel.[18][19]

Funds

Fund[20] Vintage Year Committed Capital ($m)
Gateway China Fund I 2005 200
Gateway Capital Real Estate Fund II 2007 800
Gateway Capital Real Estate Fund III 2010 374
Gateway Real Estate IV 2013 1,000
Gateway Real Estate Fund V 2017 1,300
Gateway Real Estate Fund VI 2019 2,200
Gateway Real Estate Co-Investment Fund 2019 800
Gaw Growth Equity Fund I[5][6] 2020 430
Gateway Real Estate Fund VII[21] 2021 1,200

Controversies

Email fraud

In December 2017, Gaw Capital transferred HK$39 million ($5 million) from a client's bank account to the bank account of a fraudster.[22] The fraudster posed as a client and sent instructions to the firm for the withdrawal of funds.[22] The firm discovered what had happened after the actual client contacted it.[22] A spokesperson for Gaw Capital stated the bank account in question was frozen and most of the funds transferred were retrieved.[22]

Lawsuit over The Standard High Line hotel

In November 2017, Gaw Capital acquired The Standard High Line hotel in New York for $323 million.[18] 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.[19][23] 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.[19][23]

References

  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 g h 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. ^ "The PERE 100 bounces back" (PDF). Harrison Street. 2022.
  5. ^ a b "A $30 Billion Fund Piles Into Hong Kong's Office Market". Bloomberg.com. 2021-06-29. Retrieved 2022-06-29.
  6. ^ a b "Gaw Capital Raises $332M for Gaw Growth Equity Fund I". Mingtiandi. 2021-05-29. Retrieved 2022-06-29.
  7. ^ "Contact Us - Gaw Capital". www.gawcapital.com. 2021-04-09. Retrieved 2022-06-29.
  8. ^ "Gaw Capital USA". Gaw Capital USA. Retrieved 2022-07-11.
  9. ^ "Rebranding of Public hotel brings back part of famed name: Ambassador". Chicago Tribune. Retrieved 2022-06-29.
  10. ^ "Gaw, Schroder Pamfleet Buy CityPlaza One From Swire". Mingtiandi. 2020-11-09. Retrieved 2022-06-29.
  11. ^ "Columbia Center sold to Hong Kong investors". The Seattle Times. 2015-08-07. Retrieved 2022-06-29.
  12. ^ "Gaw's Pioneer Global Invests $118 Mil in Intercon". Mingtiandi. 2017-04-04. Retrieved 2022-06-29.
  13. ^ "Hong Kong's Gaw, South Korean investors buy London building". Reuters. 2013-11-21. Retrieved 2022-06-29.
  14. ^ "Gaw Capital, CSI team up for Kowloon hotel buy". South China Morning Post. 4 April 2012. Retrieved 2022-06-29.
  15. ^ "Gaw Capital Partners Acquires Waterside House at Paddington London - PR Newswire APAC". en.prnasia.com. Retrieved 2022-06-29.
  16. ^ "Hollywood & Highland is getting a big makeover that includes turning stores into offices". Los Angeles Times. 2020-08-05. Retrieved 2022-06-29.
  17. ^ "Rent rises not 'winning formula', says new owner of Link Reit malls". South China Morning Post. 2018-03-28. Retrieved 2022-06-29.
  18. ^ a b "Gaw Buys Manhattan's Standard Hotel for $323M". Mingtiandi. 2017-11-02. Retrieved 2022-06-29.
  19. ^ a b c "Gaw Capital Sued by Wells Fargo, Apollo Over High Line Hotel". Mingtiandi. 2021-11-17. Retrieved 2022-06-30.
  20. ^ "Gaw Capital | Palico". www.palico.com. Retrieved 2022-06-29.
  21. ^ "Gaw Capital Raises $1.2B for Gateway Real Estate Fund VII". Mingtiandi. 2021-11-17. Retrieved 2022-06-29.
  22. ^ a b c d "Firm that bought 17 shopping malls loses HK$39 million in scam". South China Morning Post. 2017-12-19. Retrieved 2022-06-30.
  23. ^ a b "Wells Fargo Sues to Foreclose on Standard High Line Hotel". Bloomberg.com. 2021-11-12. Retrieved 2022-06-30.

External links

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