Yvette Choo

Thirteen Asia-focused funds, which also invest in Greater China, raised $19bn in the third quarter, with growth funds accounting for the most capital raised.

The fund will invest in private equity and special situation portfolios in South Korea and Asia Pacific.

The principal and chief executive of the private equity real estate's Asian operations has left the outfit, reportedly to start his own firm.

The Merrill Lynch Asian Real Estate Opportunity Fund is the firm’s first Asia-dedicated fund, which will focus on Japan, China, South Korea and India.

Earlier this week the $165bn National Pension Service struck a $3bn deal with Oaktree Capital to pursue Korean investments.

Blackstone is unlikely to finalise its deal for an increased stake in Indian construction company, Nagarjuna, owing to regulatory delays. It comes though after the country's plunging stock market wiped 68 percent from the value of the assets.

Prudential Corporation Asia, Warburg Pincus and other undisclosed firms are reportedly investing $300m in Bangalore-based property developer MetroCorp. The developer is targeting 6,000 acres in India.

Investor confidence in the sector remains strong with a total of 79 private equity real estate deals made between August 2007 and August 2008, according to a report by Cushman & Wakefield.

Winnington Capital’s $1bn China-specific private equity property fund has acquired a stake in a real estate investment company focused on property development in the city of Chongqing. The investment was made through its Trophy Property Fund.

The Indian infrastructure-focused firm had to delay the final close for five months pending regulatory approval. It recently announced the first investment from the vehicle, in Indian wind turbine manufacturer SE Forge.