Pacific Star receives Qatar Financial Centre licence

Pacific Star is Qatar Financial Centre's first regulated financial services firm from Singapore. The licence allows Pacific Star Doha LLC to conduct regulated activities in respect of advising on investments and arranging deals on investments.

Dr Knut Riesmeier, President of the Group's Qatar operations, said:

"We're delighted to receive the licence from QFC. Qatar is an excellent base to grow our business platform in the Middle East and increase Pacific Star's funds raised from sovereign wealth funds, financial institutions, family offices and ultra-high-net-worth individuals in the region."

"We're excited about these opportunities and look forward to picking up operational pace now that the license has been granted. The timing is right as markets in Asia are turning around at a rapid pace and Middle Eastern investor interest in Asian real estate is growing," he added.

Dr Riesmeier added, "Pacific Star Group is fully committed to a long-term strategic presence in Qatar. This latest development also supports our overall growth strategy to provide investment solutions for global investors who are keen on real estate opportunities in the Gulf region."

Established in 2001, the Pacific Star Group is an independent Singaporeheadquartered real estate investment house specialising in investment management, fund management, development management, REIT management, asset management and private equity.

The Group's institutional investor base is spread across Asia, Europe, North America and the Middle East. Its clients include Qatar Investment Authority, Kuwait Finance House, MEAG, ERGO and Societe Generale.

Pacific Star has advised and managed multi-billion dollar real estate transactions since its inception in 2001. The Group manages a suite of funds, namely, the €1.2bn AREIF Fund, the $600m Baitak Asian Real Estate Fund (a joint venture between Pacific Star and Kuwait Finance House) and the $650m Asian Real Estate Prime Development Fund which invests in prime development projects in key Asian cities.

The Group's latest fund activities include fund raising for its $500m Enterprise Fund and $2bn Asia Fund Select fund. The former is a private equity fund focused on special situations private equity real estate and it invests mainly in real estate companies and platforms through different parts of the capital structure, and the latter focuses on real estate investment opportunities in India, China, Northeast Asia and Southeast Asia.

Pacific Star has also facilitated several notable investments including Shui On Land in China which owns the renowned Xintiandi in Shanghai, Capital Square in Singapore, and the acquisition and divestment of a 50% interest in the Eureka Office Fund which had Singapore commercial properties Temasek Tower, Adelphi and One George Street in its portfolio.

The Group has offices in key cities such as Kuala Lumpur, Bangkok, Hong Kong, Beijing, Shanghai, Seoul, Tokyo, Sydney, Munich and New York.