Aquilius Investment Partners has completed fundraising for its second Asia-Pacific real estate secondaries flagship fund, AIP Secondary Fund II L.P., closing above its hard cap with more than $750 million in commitments and surpassing its original $700 million target. In total, the firm — co-founded by former senior executives from Partners Group and The Blackstone Group — has raised $1.1 billion across the flagship fund and associated vehicles. 

AIP SF II attracted a diverse mix of global institutional investors, including sovereign wealth funds, pensions, financial institutions, and family offices, underscoring the fast-growing appetite for Asian real estate secondaries. The strategy targets both LP-led and GP-led transactions with a focus on “new economy” sectors benefiting from structural tailwinds, such as logistics, life sciences, data centers, hospitality, and living. The fund is already approximately 50% deployed across eight transactions. 

“We are actively capitalizing on a generational buying opportunity for secondaries in Asia,” said Bastian Wolff, Founding Partner at Aquilius and former Managing Director and Head of Asia Pacific Real Estate for Partners Group. “This milestone fundraise reflects our strong track record and the increasing demand for Asian real estate secondaries as market volatility and liquidity needs push deal volume to record highs.” 

“The past 12 months have been a record-breaking period for secondaries activity,” added Christian Keiber, Founding Partner at Aquilius and former Managing Director at The Blackstone Group. “We aim to remain the leading provider of secondaries solutions in Asia Pacific — partnering with institutional investors and fund managers to unlock liquidity through innovative, scalable structures while delivering compelling returns.” 

Aquilius Investment Partners – Founding Partners Bastian Wolff (l) and Christian Keiber (r)