Gaw Capital Explained

Gaw Capital
Native Name:基滙資本
Type:Private
Industry:Private equity real estate
Foundation:[1] [2]
Founders:Goodwin Gaw
Kenneth Gaw
Location:Hong Kong
Aum:US$33.6 billion (Q3 2022)[3]
Footnotes:[4]

Gaw Capital 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

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.

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

Fund[22] Vintage YearFund Size ($m)
Gateway China Fund I2005200
Gateway Capital Real Estate Fund II2007800
Gateway Real Estate Fund III2010420
Gateway Real Estate IV20131,000
Vietnam Fund201569.8
Gaw Hospitality Fund I2016151.3
Gateway Real Estate Fund V20171,300
Gaw Capital European Hospitality Fund I2018224.4
Gateway Real Estate Fund VI20192,200
Gaw Growth Equity Fund I2020430
Gateway Real Estate Fund VII[23] 20233,000

Controversies

Email fraud

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. The firm discovered what had happened after the actual client contacted it. A spokesperson for Gaw Capital stated the bank account in question was frozen and most of the funds transferred were retrieved.

Lawsuit over The Standard High Line hotel

In November 2017, Gaw Capital acquired The Standard High Line hotel in New York for $323 million. 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.[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.

External links

Notes and References

  1. Web site: How the famous Hollywood Roosevelt regained its glory . South China Morning Post . en . 13 June 2017 . 29 June 2022 . 29 June 2022 . https://web.archive.org/web/20220629123211/https://www.scmp.com/property/hong-kong-china/article/2098161/how-tycoon-goodwin-gaw-revived-fortunes-iconic-hollywood . live .
  2. Web site: Wells . Jennifer . HK Property Investor Goodwin Gaw Spies World Of Bargains On The Horizon . Forbes . en.
  3. Web site: Gaw Capital Partners - Gaw Capital . www.gawcapital.com . 31 March 2021 . 29 June 2022 . 29 June 2022 . https://web.archive.org/web/20220629122741/https://www.gawcapital.com/aboutus/gaw-capital-partners/ . live .
  4. Web site: Form ADV . SEC . 24 November 2022 . 20 February 2023 . https://web.archive.org/web/20230220125747/https://reports.adviserinfo.sec.gov/reports/ADV/163530/PDF/163530.pdf . live .
  5. Web site: 2022 . The PERE 100 bounces back . Harrison Street . 29 June 2022 . 9 October 2022 . https://web.archive.org/web/20221009121354/https://www.harrisonst.com/wp-content/uploads/2022/06/The-PERE-100-Bounces-Back.pdf . live .
  6. Web site: 31 March 2021 . Gaw Capital Partners - Gaw Capital . 12 December 2022 . www.gawcapital.com . en-US . 3 December 2022 . https://web.archive.org/web/20221203030639/https://www.gawcapital.com/aboutus/gaw-capital-partners/ . live .
  7. News: 29 June 2021 . A $30 Billion Fund Piles Into Hong Kong's Office Market . en . Bloomberg.com . 29 June 2022 . 29 June 2021 . https://web.archive.org/web/20210629220934/https://www.bloomberg.com/news/articles/2021-06-29/a-30-billion-fund-piles-into-hong-kong-s-battered-office-market . live .
  8. Web site: 29 May 2021 . Gaw Capital Raises $332M for Gaw Growth Equity Fund I . 29 June 2022 . Mingtiandi . en-US . 23 September 2023 . https://web.archive.org/web/20230923203216/https://www.mingtiandi.com/real-estate/finance/aw-capital-raises-332m-for-gaw-growth-equity-fund-i/ . live .
  9. Web site: 9 April 2021 . Contact Us - Gaw Capital . 29 June 2022 . www.gawcapital.com . en-US . 29 June 2022 . https://web.archive.org/web/20220629123010/https://www.gawcapital.com/contact-us/ . live .
  10. Web site: Gaw Capital USA . 11 July 2022 . Gaw Capital USA . en-US . 11 July 2022 . https://web.archive.org/web/20220711124952/https://www.gawcapitalusa.com/ . live .
  11. Web site: Rebranding of Public hotel brings back part of famed name: Ambassador . 29 June 2022 . Chicago Tribune . 23 March 2022 . https://web.archive.org/web/20220323200834/https://www.chicagotribune.com/business/ct-ambassador-hotel-returns-chicago-0727-biz-20170726-story.html . live .
  12. Web site: 9 November 2020 . Gaw, Schroder Pamfleet Buy CityPlaza One From Swire . 29 June 2022 . Mingtiandi . en-US . 29 June 2022 . https://web.archive.org/web/20220629135448/https://www.mingtiandi.com/real-estate/finance/gaw-schroder-pamfleet-buy-cityplaza-one-from-swire/ . live .
  13. Web site: 7 August 2015 . Columbia Center sold to Hong Kong investors . 29 June 2022 . The Seattle Times . en-US . 19 May 2022 . https://web.archive.org/web/20220519000847/https://www.seattletimes.com/business/real-estate/columbia-center-sold/ . live .
  14. Web site: 4 April 2017 . Gaw's Pioneer Global Invests $118 Mil in Intercon . 29 June 2022 . Mingtiandi . en-US . 29 June 2022 . https://web.archive.org/web/20220629135445/https://www.mingtiandi.com/real-estate/finance/gaws-pioneer-global-invests-118-4-mil-in-hks-intercontinental-hotel/ . live .
  15. News: 21 November 2013 . Hong Kong's Gaw, South Korean investors buy London building . en . Reuters . 29 June 2022 . 29 June 2022 . https://web.archive.org/web/20220629135445/https://www.reuters.com/article/uk-gaw-watersidehouse-idUKBRE9AK08D20131121 . live .
  16. Web site: 4 April 2012. Gaw Capital, CSI team up for Kowloon hotel buy . 29 June 2022 . South China Morning Post . en.
  17. Web site: Gaw Capital Partners Acquires Waterside House at Paddington London - PR Newswire APAC . 29 June 2022 . en.prnasia.com . en-us . 28 November 2013 . https://web.archive.org/web/20131128053752/http://en.prnasia.com/story/89578-0.shtml . live .
  18. Web site: 5 August 2020 . Hollywood & Highland is getting a big makeover that includes turning stores into offices . 29 June 2022 . Los Angeles Times . en-US . 2 July 2022 . https://web.archive.org/web/20220702145645/https://www.latimes.com/business/story/2020-08-05/hollywood-highland-makeover-includes-offices . live .
  19. Web site: 28 March 2018 . Rent rises not 'winning formula', says new owner of Link Reit malls . 29 June 2022 . South China Morning Post . en . 29 November 2022 . https://web.archive.org/web/20221129021310/https://www.scmp.com/property/hong-kong-china/article/2139150/new-owner-link-reits-17-hong-kong-shopping-centres-says . live .
  20. Web site: 2 November 2017 . Gaw Buys Manhattan's Standard Hotel for $323M . 29 June 2022 . Mingtiandi . en-US.
  21. Web site: 17 November 2021 . Gaw Capital Sued by Wells Fargo, Apollo Over High Line Hotel . 30 June 2022 . Mingtiandi . en-US . 23 May 2022 . https://web.archive.org/web/20220523231341/https://www.mingtiandi.com/real-estate/finance/gaw-capital-sued-by-wells-fargo-apollo-over-high-line-hotel/ . live .
  22. Web site: Gaw Capital Palico . 29 June 2022 . www.palico.com.
  23. Web site: 17 November 2021 . Gaw Capital Raises $1.2B for Gateway Real Estate Fund VII . 29 June 2022 . Mingtiandi . en-US . 21 May 2022 . https://web.archive.org/web/20220521220403/https://www.mingtiandi.com/real-estate/finance/gaw-capital-raises-1-2b-for-gateway-real-estate-fund-vii/ . live .
  24. Web site: 19 December 2017 . Firm that bought 17 shopping malls loses HK$39 million in scam . 30 June 2022 . South China Morning Post . en . 30 June 2022 . https://web.archive.org/web/20220630134014/https://www.scmp.com/news/hong-kong/law-crime/article/2124959/fraudsters-cheat-hong-kong-investment-company-out-us5 . live .
  25. News: 12 November 2021 . Wells Fargo Sues to Foreclose on Standard High Line Hotel . en . Bloomberg.com . 30 June 2022 . 14 March 2022 . https://web.archive.org/web/20220314182112/https://www.bloomberg.com/news/articles/2021-11-12/wells-fargo-sues-to-foreclose-on-ny-standard-highline-hotel . live .

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