Avatar Capital Partners Secures $156 Mn to Expand Japan Residential Investments

The announcement was made on November 12, 2026. Alongside the fundraising, ACP has formed a strategic partnership with GCM Grosvenor and the Teacher Retirement System of Texas (TRS), which will serve as anchor investors and support the firm's institutional growth.

Fund II Secures Institutional Investment

Fund II received commitments from several global institutional investors, led by a commitment of up to US$100 million from GCM Grosvenor and TRS.

The fund will focus on Japan's living sector, where ACP sees opportunities driven by changing demographics, strong rental demand, rising rents and favorable financing conditions.

The firm plans to use its local market relationships to identify off-market investment opportunities and build its residential property portfolio.

ACP Completes Fund I Deployment and Records Five Exits

ACP closed its first fund, Fund I, in July 2025, raising US$105 million. The firm fully deployed the fund within 12 months of its final closing.

Since then, ACP has completed five successful exits. Its multifamily property portfolio has reached a gross asset value of nearly US$850 million.

These results highlight the firm's ability to source investment opportunities and execute residential property investments in Japan.

Strategic Partnership with GCM Grosvenor and TRS

The partnership with GCM Grosvenor and TRS is expected to support ACP's next stage of growth and institutional expansion.

GCM Grosvenor's real estate practice brings experience in middle-market platform building and investment management. TRS will also participate as an anchor investor in Fund II.

Angel Li, Founding Partner at ACP, said the partnership represents strong support for the firm's investment strategy and an important milestone in its growth.

Ryuta Ueda, Founding Partner at ACP, highlighted the importance of the firm's local relationships in accessing investment opportunities beyond traditional sourcing channels. He added that ACP will remain focused on disciplined execution and long-term returns.

Ronald Chiu, Founding Partner at ACP, said Fund II will help the firm pursue the growing pipeline of opportunities across Japan's living sector.

Peter Braffman, Managing Director at GCM Grosvenor, said the firm is pleased to partner with ACP's leadership team and support its next phase of growth.

Danielle Even, Executive Director at GCM Grosvenor, also highlighted ACP's local relationships and sourcing capabilities as important strengths for expanding the platform.

About Avatar Capital Partners

Avatar Capital Partners (ACP) is an Asia-based alternative asset management platform focused on alternative investments. The firm combines fundamental investment research, thematic investing and market insights to identify opportunities across different market conditions.

ACP works with institutional investors and family offices and focuses on building long-term investment value through disciplined investment strategies.

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