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BlackRock's Asian property fund gets capital commitments of $52.9m

World's largest asset manager sees tourism as key investment area through pandemic

BlackRock has been an active real estate investor in Asia.    © Reuters

NEW DELHI -- BlackRock Real Estate, the realty investment management arm of private equity major BlackRock, has received additional capital commitments of $52.92 million for its fifth Asia-focused fund, according to the firm's latest SEC filings.

The fifth fund -- BlackRock Asia Property Fund V -- was reported to have achieved a first close at $500 million in January. The firm began marketing the fund in September 2019 and had already secured between $300 million and $350 million in commitments then.

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