Strategy 04 of 6
Real Assets
Direct ownership of income-producing property and infrastructure-like assets, held for long-term cash yield and the preservation of capital.
- Typical commitment
- US$10 million to US$80 million per asset
- Holding period
- 10 years or longer
- Geographies
- Hong Kong, Singapore, Japan, Australia and the United Kingdom
Overview
The strategy
Instruments
- Direct freehold and long-leasehold ownership
- Joint ventures with operating partners in which we hold control
- Sale-and-leaseback transactions with operating businesses
Real assets anchor the portfolio with durable income. We own commercial, industrial and logistics property directly, alongside selected infrastructure-adjacent assets with contracted revenue.
We buy for income first. Each acquisition must stand on its own cash yield under conservative occupancy and rate assumptions; capital appreciation is treated as a secondary outcome rather than as the investment case.
We are comfortable with complexity, including repositioning, lease restructuring and planning work, where the entry price rewards the effort and we control the asset outright.
What we look for
Criteria
- Locations with structural demand and constrained supply
- Tenants with strong covenants or diversified income
- Assets where active management can improve income
- Clear title and a manageable regulatory pathway
What we avoid
Exclusions
- Speculative development without pre-commitment
- Highly leveraged structures
- Markets where we lack local operating capability
Beyond capital
What we bring to the table.
Capital is only part of what an investor brings. These are the things that matter most to our partners in this strategy.
- 01
Patient capital with no defined exit
- 02
Active asset management with a long-term owner's priorities
- 03
The ability to transact quickly, with certainty of funds
Related sectors
Where this strategy is most active.
Consumer & Brands
Branded consumer businesses, premium food and beverage, and retail formats with pricing power and loyal customers.
SectorReal Estate & Infrastructure
Income-producing commercial, industrial and logistics property, together with infrastructure-adjacent assets with contracted revenue.
SectorEnergy Transition & Resources
Renewable generation, energy efficiency, storage and the resources that supply them, where the economics do not rely on subsidy.
SectorTalk to the people who make the decisions.
If you are a founder, owner or borrower looking for an aligned investor with a long horizon, we would like to hear from you.