Avatar Capital Partners closes on $156m for Japan fund

Avatar Capital Partners secured $156 million in commitments for its second fund targeting Japan's residential real estate sector, according to a press release. Fund II aims to reach $300 million, with anchor investments from GCM Grosvenor and the Teacher Retirement System of Texas, committing up to $100 million combined. The firm, led by Angel Li, Ryuta Ueda, and Ronald Chiu, launched Fund I in July 2025, fully deploying $105 million within 12 months and completing five exits.

Fund II will pursue off-market opportunities in Japan's residential sector, attracting global institutional investors and family offices. The firm, based in Asia, manages a multifamily portfolio valued at nearly $850 million and is focused on alternative investments.