Aquilius Investment Partners has completed fundraising for its second real estate secondaries flagship fund, AIP Secondary Fund II L.P. (“AIP SF II”), marking the largest ever Asia Pacific real estate secondaries program at $1.1 billion. The total capital commitments include over $750 million for the flagship fund and additional commitments across associated vehicles, exceeding the firm’s initial $700 million target and reaching the fund’s hard cap.
The Singapore-based firm, founded in 2021 by former Partners Group executive Bastian Wolff and ex-Blackstone managing director Christian Keiber, has established itself as the largest real estate secondaries platform in Asia. Aquilius’ latest fund attracted strong interest from a global investor base that included leading sovereign wealth funds, pension funds, financial institutions, and family offices.
AIP SF II targets both LP-led and GP-led transactions throughout the Asia Pacific region, focusing on “new economy” sectors such as logistics, life sciences, data centers, hospitality, and living. The fund has already deployed approximately 50% of total commitments across eight secondaries transactions.
The fundraising reflects the growing institutional appetite for Asian real estate secondaries opportunities, as market volatility and liquidity needs drive record deal activity across the region. Aquilius aims to capitalize on this trend by building diversified portfolios in sectors benefiting from structural tailwinds, offering investors attractive, risk-adjusted returns with shorter durations.
The firm’s founding partners bring more than 15 years of experience in Asian real estate secondaries markets and have collectively deployed over $4 billion of equity across complex liquidity solutions, including LP interest transfers, continuation vehicles, and structured equity transactions. With a team of 30 professionals, Aquilius focuses on forging long-term partnerships with funds and managers through tailored liquidity solutions backed by its institutional independence and ability to transact swiftly and confidentially.
KEY QUOTES:
“We are actively capitalizing on a generational buying opportunity for secondaries in Asia. This milestone fundraise is a testament to our strong track record and highlights the continued and growing appetite for Asian real estate secondaries investments among LPs, as market volatility and the need for liquidity drives deal volume to record highs. It’s incredibly rewarding to see our Firm recognized and supported by such a broad and global group of high-profile institutional investors. We are deeply thankful for the trust of existing and new investors, whose partnership makes this milestone possible.”—
Bastian Wolff, Founding Partner, Aquilius Investment Partners
“The past 12 months marked a record-breaking year for secondaries volume. We are committed to being the leading provider of secondaries solutions in the Asia Pacific region — partnering with institutional investors and fund managers to deliver value through creative, efficient and scalable liquidity solutions while delivering compelling returns to our investors.”
Christian Keiber, Founding Partner, Aquilius Investment Partners
