EXS: Asia's Leading Private Equity Real Estate Specialist
2007
Year of establishment
100 years+
Combined investment experience
US$1b+
Completed and
ongoing investments
EXS is an experienced investment manager sponsoring private equity style investments into real estate businesses in partnership with expert management. Fully licensed in Singapore and Hong Kong with over 16-year track record of success on every investment, EXS’s disciplined and contrarian approach achieves to outperform in Asia volatility vs. traditional PE/RE blind pool funds.
Founded & led by industry veteran Eric Solberg with 30+ years of entrepreneurial, private equity & real estate experience across Asia; pedigree team from top-tier global investment banks, investment managers and Big Four accounting firms.
EXS identifies opportunities characterized by the value disconnect between capital markets and the real economy. As real estate is a specialized business, EXS' strategy is to partner with expert management teams at the platform level, rather than compete at the asset level. A prominent Developer of Developers since its inception, EXS supported several real estate developers in Asia and helped them scaled into internationally recognized organizations.
Over the past two decades, highly innovative, Social Real Estate platforms such as co-working, co-living, and hostels emerged across Asia and the world. Typically enabled by technology, these business models are driving new lifestyles with a very clear growing market demand compared with traditional real estate sectors. These businesses were soon overfunded and undermanaged by VC investors, who misinterpreted them as tech when they really are hospitality and real estate businesses. Abandoned now by VCs and at a fraction of their former values, often at a heavy discount to replacement cost, EXS aims to take control and quickly turn them around to be profitable, growing businesses while also enjoying the real estate upside.
PLATFORMS
EXS built a strong track record of successful partnerships with both management teams and investors, with over US$1 billion of completed and ongoing investments across Asia.
SOCIAL REAL ESTATE
Social Real Estate ("SRE") businesses are highly innovative social property platforms which include niche hospitality,
creative/flexible workspace, co-living, co-working, student housing. These trending new sharing-economy, tech-enabled,
community & experience oriented real estate business models are driving new lifestyles across the globe.
New Hospitality
Co-Living
Co-Working
Vacation Rental
Student Housing
Fitness & Wellness
Successfully disrupting traditional real estate sectors across the world, Social Real Estate businesses usually share these
common characteristics:
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Technology-enabled business models;
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Increased flexibility and shorter-term contracts;
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Convenient and easy to use;
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Community-driven, cultivating connections and relationships;
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Experience and event-focused;
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Cost effective, based on flexibility and other benefits; and
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Broadening appeal beyond the initial targeted audience of millennials and other early adopters.
SRE offers flexibility, convenience, community and experience at a lower occupancy cost, fueled by sharing economy and technology. It enables a business model where, SRE attracts people with competitively priced base hospitality products (e.g. hostel rooms). As customers engage and socialize in groups, it upsells with ancillary services at premium for greater profit.
SRE can drive higher returns & yields than traditional real estate.
VALUE PROPOSITION
Previously overfunded and mismanaged by VCs, SRE valuations are now correcting, presenting opportunities to take control at significant discounts
SRE leverages its real estate as a key value driver to monetize their user traffic, by upselling with complementary products and services
EXS recognizes what SRE really is: hospitality, not tech. We invest at a significant discount, restructure / turnaround quickly, drive growth & scale up, and help monetize user traffic
Our unique OpCo/PropFund strategy gives businesses the flexibility to control both the social and the real estate aspects, fully unlocking its long-term value while providing downside protection
ONGOING PROJECTS
Project Voyager
EXS is leading several rounds of investment into Mad Monkey, the largest hostel operator in Southeast Asia. The company adopts a community-led hospitality business model and provides customers with a differentiated experience.
Project Harmony
EXS is leading the investments into the largest creative space provider globally with 730+ studios, offering artists with space & tools to practice, create content and work towards monetizing their talents.
Project ZOEYI
EXS is sponsoring ZOEYI, an integrated fitness, nutrition and wellness community ecosystem with physical spaces and online presence across Asia. The business provides fitness and wellness consulting and coaching services.
DEVELOPER OF DEVELOPERS
A pioneer of investing into Asian real estate businesses and platforms, EXS’ “Developer of Developers” strategy supports premier
real estate investment and development teams to grow their pipeline and business through to public listings.
Contrarian in approach, EXS tends to invest in times of apparent crisis when value abounds, which in turn allows us to negotiate
strong downside protection, controls and rights as well as good upside potential. Having secured a great entry price and position,
EXS works closely with the expert management team to drive the investments to the best outcome.
LEMONGRASS MASTER FUND I
Project Lemongrass
EXS identified SonKim Land, a leading luxury real estate developer in Ho Chi Minh City, as a promising Vietnamese developer with strong potential and leadership in 2012. As one of the few institutional private equity real estate investors, the team led multiple rounds of investments totalling US$184 million into the company and fully realized all investments, marking a significant achievement for Lemongrass Master Fund I and strong returns for its investors.
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TEAM
Multi-disciplinary team with broad experience across Asian markets, industries and investment strategies
Various members of EXS are licensed with the Monetary Authority of Singapore for Fund Management, the Hong Kong Securities & Futures Commission for Advising on Securities, Advising on Corporate Finance and Asset Management, the Hong Kong Estates Agents Authority for Real Estate Brokerage and registered with the Cayman Islands Monetary Authority.
ENTREPRENEURS
EXS seeks long-term partnerships with expert management teams to build companies of lasting value and create significant wealth for founders, management and investors
EXS looks for experienced partners, undervalued situations, and an aligned structure
EXS takes a long-term, multi-stage investment approach, partnering and working side-by-side with management teams to survive and thrive through volatile Asian business cycles
More than just capital; EXS typically also leads strategy, structuring, corporate finance, investor relations, legal, tax and value realization for management and partners, thus allowing them to better focus on operations to drive growth and profits to the benefit of all
ESG
Social Real Estate businesses are inherently ESG-friendly by their very nature
Responsible Investment
EXS has rigorous due diligence process, including ESG factor assessment. We endeavor to avoid material environmental, social or government risks in our investments
Sustainable Private Equity Real Estate
EXS's ongoing investments have strong dedication to ESG, and contribute significantly to their local communities.
We aim to minimize environmental impact throughout the real estate investment and operation cycle through our business partners and investee companies
LICENSES
MONETARY AUTHORITY OF SINGAPORE
EXS Capital Pte. Ltd. is licensed by the Monetary Authority of Singapore under the Securities and Futures Act to conduct Fund Management under the Capital Markets Services License
CAYMAN ISLANDS MONETARY AUTHORITY
EXS Capital Limited is registered with the Cayman Islands Monetary Authority as a Registered Person
EXS is licensed & authorized for business activities in its relevant jurisdictions
ESTATE AGENTS AUTHORITY
EXS Property Limited is licensed by the Hong Kong Estate Agents Authority
SECURITIES AND FUTURES COMMISSION
EXS Capital Asia Limited is licensed by the Hong Kong Securities & Futures Commission for Type 4 (Advising on Securities), Type 6 (Advising on Corporate Finance) and Type 9 (Asset Management)