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Gaw Capital

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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]

Gaw Capital (Chinese: 基滙資本) is a real estate private equity fund management 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.[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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