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04-08-2014, 06:02 AM
http://www.businesstimes.com.sg/premium/...a-20140804
PUBLISHED AUGUST 04, 2014
ARA eyes investments in Australia and Korea
It plans more fund products as it further diversifies from the saturated China market
BYLYNETTE KHOO
lynkhoo@sph.com.sg @LynetteKhooBT
[SINGAPORE] ARA Asset Management, the manager of listed property trusts and private equity funds, is looking to deploy some of its dry powder in development projects in Australia and raise its firepower in South Korea by creating more fund products.
This marks further diversification from the saturated Chinese market, although China remains a key market for the pan-Asian fund manager, backed by Asia's richest man Li Ka-shing.
Investing into Australia and South Korea has become feasible given ARA's physical presence in these markets through recent acquisitions, ARA Private Funds chief executive Ng Beng Tiong told The Business Times.
The private equity arm's interest in Australia follows Suntec Reit's entry last November, when the ARA-managed Reit acquired land and property in North Sydney for A$413.19 million (S$480 million) to be developed into a Grade-A commercial tower. In South Korea, ARA acquired Macquarie Real Estate Korea Limited in April, which manages two privately held Korean Reits comprising office properties worth a combined 588.4 billion won (S$708.6 million).
PUBLISHED AUGUST 04, 2014
ARA eyes investments in Australia and Korea
It plans more fund products as it further diversifies from the saturated China market
BYLYNETTE KHOO
lynkhoo@sph.com.sg @LynetteKhooBT
[SINGAPORE] ARA Asset Management, the manager of listed property trusts and private equity funds, is looking to deploy some of its dry powder in development projects in Australia and raise its firepower in South Korea by creating more fund products.
This marks further diversification from the saturated Chinese market, although China remains a key market for the pan-Asian fund manager, backed by Asia's richest man Li Ka-shing.
Investing into Australia and South Korea has become feasible given ARA's physical presence in these markets through recent acquisitions, ARA Private Funds chief executive Ng Beng Tiong told The Business Times.
The private equity arm's interest in Australia follows Suntec Reit's entry last November, when the ARA-managed Reit acquired land and property in North Sydney for A$413.19 million (S$480 million) to be developed into a Grade-A commercial tower. In South Korea, ARA acquired Macquarie Real Estate Korea Limited in April, which manages two privately held Korean Reits comprising office properties worth a combined 588.4 billion won (S$708.6 million).