Hong Kong-based real estate private equity firm Gaw Capital filed on Friday to list its Gaw Capital Real Estate Private Debt OFC, aiming to become the first property-focused private debt fund on the Hong Kong stock exchange's main board. The move comes as traditional banks scale back commercial real estate lending. The fund has identified a US$291 million (HK$2.29 billion) pipeline of deals across Hong Kong, Australia, South Korea, Thailand, and the Maldives.