Straits Trading Seeks to Emulate Blackstone for Property Funds
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Straits Trading Co., an investor in Singapore’s biggest publicly traded property trust manager, is planning “Blackstone-like” funds as Asia’s appetite for real estate investments increases.
Straits Trading last month invested in ARA Asset Management Ltd., the property trust manager partly owned by billionaire Li Ka-shing, and set up a joint venture with ARA’s Chief Executive Officer, John Lim, to invest in the property funds. The funds, with an eight-to-10-year time frame, will seek to follow the model of Blackstone Group LP, the world’s biggest manager of alternative assets including real estate, according to Chew Gek Khim, executive chairman of Straits Trading.