Launches & Closures

Sniper launches $100m property fund


Sniper Capital, the property-focused fund manager, is launching a $100 million fund that will focus on real estate in Macau’s non-gaming sector.

The Macau Sniper Fund, to be launched by year-end, will have a private equity bent and invest in undervalued property in the entertainment, restaurant and retail sectors, according to Sniper director Tom Ashworth. It has a five-year targeted internal rate of return of 25%, with a 2% management fee and 20% performance fee.

Sniper has raised $5 million internally for the fund, of which $4 million has already been invested in Macau real estate, said Ashworth.