erwacapital

Portfolio

AREF is structured to deliver risk-adjusted

performance through a diversified portfolio of

Asia Real Asset

spans across Singapore landed Property,

Asia Hospitality and SME credit

Access to investments partnered with trusted network and operator

Portfolio Core Asset

Active Development

Singapore Landed Property

Freehold landed residential market

This premium residential development capitalizes on Singapore's robust landed property market through the strategic redevelopment of a single detached house into four luxury terraced homes. Located on a substantial 9,350 sqft site with optimal north-facing orientation, the project benefits from established infrastructure and proven market demand.

Investment Highlights:

Our development partner brings exceptional track record with 23 completed homes across prime districts including Holland, Novena, and Bukit Timah. Their proven expertise has consistently delivered 25%+ ROE across 13 projects, demonstrating strong execution capabilities in Singapore's competitive market.

Lease & Operate

Asia Hospitality

Lease and operate Bali beachfront resort

This sophisticated hospitality investment targets Bali's thriving tourism sector through a lease-and-operate model of a premium beachfront resort. The 140-key property features 11 distinct room types, including suites and family units, positioned to capture both leisure and business travelers.

Strategic Advantages:

The resort offers comprehensive amenities including dual swimming pools, full-service restaurant and bar, spa facilities, and fitness center. Our equity participation structure provides stable 12% annual returns while benefiting from Bali's post-pandemic tourism recovery and Indonesia's growing middle-class domestic travel market.

Active Credit

SME Credit

Invoice Financing, Singapore Infrastructure

This short-tenor credit facility exemplifies our private credit strategy, providing invoice financing to a Singapore-based engineering SME serving the public infrastructure sector. The transaction demonstrates our ability to deliver attractive risk-adjusted returns through secured, government-backed receivables.

Risk Mitigation:

The facility is secured by a SGD 900,000 invoice from a public-listed, government-linked entity with excellent payment history. Full invoice assignment and personal guarantees provide multiple layers of security, while the 90-180 day tenor ensures rapid capital recycling and minimal duration risk.

The Fund is exposed to risks inherent in private markets, including but not limited to: risks related to investments in privately held SMEs, concentrated portfolio exposures, leverage risk, interest rate volatility, conflicts of interest, SOFR risk, default risk, market risk, credit and illiquidity risks. The credit quality of many private credit instruments held by the Fund is expected to be unrated or below investment grade. In the case of private equity holdings, investments may involve long holding periods and limited visibility into performance metrics. The Fund is further subject to economic, political, industry-specific, and regulatory risks across its target geographies in Asia. The Fund is structured as a Variable Capital Company (VCC) and is managed by Evolve Capital, a fund management company licensed by the Monetary Authority of Singapore (MAS).

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