Aquilius Raises $1.1 Billion for Asia’s Largest Real Estate Secondaries Fund
Aquilius Investment Partners has raised $1.1 billion for its second Asia Pacific real estate secondaries fund, marking the region's largest of its kind. The fund aims to capitalize on the growing demand for secondaries in the region.
Real EstateSecondariesFundraisingAsia PacificAquiliusReal EstateNov 03, 2025
Secondaries, which involve investors buying existing stakes in private funds, are among the fastest-growing alternative strategies globally, according to Preqin. The data provider forecasts that global alternative assets will reach $29.2 trillion by 2029, with secondaries expected to grow at an annual rate of 13.1% through 2029. This growth is driven by slow exits and rising private wealth demand.
Founded in 2021 by former Partners Group and Blackstone executives, Aquilius now operates what it claims is Asia's largest real estate secondaries platform, with 30 professionals on the ground. Christian Keiber, a founding partner at Aquilius, highlighted the significant opportunity in the region: 'One third of global private market AUM sits in Asia, yet less than 10% of secondaries capital is dedicated here.' AUM refers to assets under management. Keiber added, 'Combine that with an environment of slow exits, heightened uncertainty, and regulatory drivers, and you have a generational buying opportunity.'
Bastian Wolff, another founding partner, noted that Aquilius' clients are primarily sovereign wealth funds and pension funds in Asia and the Middle East. 'Their proximity and understanding of the market opportunity were key drivers of confidence in our investment strategy and platform,' Wolff said. He further stated that the remaining capital will target diversified exposure across Japan, Korea, India, and Australia, focusing on new economy sectors such as logistics, data centers, and living.
About half of the capital has already been deployed across eight transactions, demonstrating the firm's rapid execution and market presence. The success of this fundraising round underscores the growing importance of real estate secondaries in Asia and the strategic positioning of Aquilius in this market.
Frequently Asked Questions
What is a real estate secondaries fund?
A real estate secondaries fund is a type of investment fund that buys existing stakes in private real estate funds. This allows investors to exit their positions and provides liquidity to the market.
How much did Aquilius raise for its second Asia Pacific real estate secondaries fund?
Aquilius Investment Partners raised $1.1 billion for its second Asia Pacific real estate secondaries fund, making it the region's largest of its kind.
What is the forecast for global alternative assets by 2029?
According to Preqin, global alternative assets are forecasted to reach $29.2 trillion by 2029, with secondaries expected to grow at an annual rate of 13.1%.
Who are the primary clients of Aquilius Investment Partners?
The primary clients of Aquilius Investment Partners are sovereign wealth funds and pension funds in Asia and the Middle East.
What sectors will the remaining capital target?
The remaining capital will target diversified exposure across Japan, Korea, India, and Australia, focusing on new economy sectors such as logistics, data centers, and living.
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