Forum Partners closes Asian property fund at $375 million

Forum Partners has held a final close on its third Asia real estate fund at $375 million, with most of its investors comprising major institutions in the US and Western Europe. Forum Asian Realty Income Fund III is a follow-up to the $650 million Fund II, which closed in 2007 and is now fully invested.  Challenging fundraising conditions in the West – where the firm’s primary investor base is located – led to a smaller third vehicle, says Merrit Maddux, the Hong Kong-based manag…