Key Takeaways
- • naked Group expands into fund management: Shanghai-based co-working and resort operator naked Group is launching a new real estate investment platform, signaling strategic diversification beyond its core sharing economy operations.
- • Jennifer Zhang joins as Head of Investment: Zhang, a veteran from Hong Kong-based Gaw Capital Partners (ranked 11th largest private equity real estate firm globally), has joined naked Group to establish and lead the investment initiative, reporting directly to founder and chairman Grant Horsfield.
- • Dual investment platform strategy: naked plans to create two separate investment vehicles—one targeting commercial buildings convertible to naked products and another focused on resort properties—leveraging the group's in-house design, construction, and technology capabilities.
- • Asset-light value creation model: The investment strategy relies on naked's integrated asset management expertise to enhance property performance through creative design, operational improvements, and intensive management, enabling value creation for landlords and investors without heavy capital deployment.
- • Team building underway: Zhang commenced her role at the end of February 2018 and is actively recruiting and deploying internal resources to support the investment platform's operational launch.
Summary
naked Group, a Shanghai-based premium co-working and resort operator, is making a strategic pivot into fund management by establishing a dedicated real estate investment division. The company has appointed Jennifer Zhang, a seasoned investment professional from Gaw Capital Partners, as Head of Investment to spearhead this expansion. Zhang, who commenced her position in late February 2018, reports directly to naked Group founder and chairman Grant Horsfield.
Zhang's mandate extends beyond fund establishment to encompass mergers and acquisitions support for naked Group's broader sharing economy expansion. In her role, she is tasked with building an internal investment team and structuring two distinct investment platforms: one dedicated to commercial real estate projects convertible into naked co-working products, and a separate vehicle focused on resort properties. The dual-platform approach reflects naked's intention to partner with landlords and institutional investors to deploy capital in assets where the group can apply its operational expertise.
The strategic rationale centers on naked's proprietary asset management capabilities. Zhang emphasized that the group delivers tangible value to property owners through integrated design services, construction management, and technology infrastructure, coupled with intensive operational improvements. This enables attractive performance generation for investors while supporting naked's expansion without requiring proportional balance sheet deployment. The company aims to leverage its design and operational know-how to establish superior operating performance across the investment platforms' portfolios.
Zhang's hiring from Gaw Capital Partners—a Hong Kong-headquartered real estate private equity firm managing multiple asset classes across Asia and globally—underscores naked Group's intention to professionalize its investment operations. Gaw Capital, founded in 2005 and ranked among the world's largest private equity real estate managers, has demonstrated strength in deploying capital across Asian real estate markets. By recruiting a senior investment professional from this caliber institution, naked Group signals credibility to potential limited partners and landlord counterparties.
The initiative represents a natural extension of naked Group's existing asset management operations into formal fund management, enabling the company to access institutional capital while maintaining operational control and value-creation opportunities across acquired or managed properties.
Zhang's mandate extends beyond fund establishment to encompass mergers and acquisitions support for naked Group's broader sharing economy expansion. In her role, she is tasked with building an internal investment team and structuring two distinct investment platforms: one dedicated to commercial real estate projects convertible into naked co-working products, and a separate vehicle focused on resort properties. The dual-platform approach reflects naked's intention to partner with landlords and institutional investors to deploy capital in assets where the group can apply its operational expertise.
The strategic rationale centers on naked's proprietary asset management capabilities. Zhang emphasized that the group delivers tangible value to property owners through integrated design services, construction management, and technology infrastructure, coupled with intensive operational improvements. This enables attractive performance generation for investors while supporting naked's expansion without requiring proportional balance sheet deployment. The company aims to leverage its design and operational know-how to establish superior operating performance across the investment platforms' portfolios.
Zhang's hiring from Gaw Capital Partners—a Hong Kong-headquartered real estate private equity firm managing multiple asset classes across Asia and globally—underscores naked Group's intention to professionalize its investment operations. Gaw Capital, founded in 2005 and ranked among the world's largest private equity real estate managers, has demonstrated strength in deploying capital across Asian real estate markets. By recruiting a senior investment professional from this caliber institution, naked Group signals credibility to potential limited partners and landlord counterparties.
The initiative represents a natural extension of naked Group's existing asset management operations into formal fund management, enabling the company to access institutional capital while maintaining operational control and value-creation opportunities across acquired or managed properties.
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