Latest news with #HillhouseInvestment
Arabian Business
19-05-2025
- Business
- Arabian Business
Global investment companies line up for a piece of Dubai real estate pie
From Brookfield Corp to Goldman Sachs, some of the biggest investment companies in the world are increasingly turning their attention to Dubai's surging real estate market. Bloomberg has reported that Canada's Brookfield – which already has the ICD Brookfield Place, the mega successful 53-storey, 1.1 million square feet commercial property in the Dubai International Financial Centre (DIFC) area as part of their joint venture with Investment Corporation of Dubai (ICD) – is now considering plans to develop a mixed-use community in the Dubai Hills area. Goldman Sachs is looking at hospitality, with Goldman Sachs Asset Management investing an additional US$25 million in the UAE-based Sunset Hospitality Group (SHG), which aims to have 20 hotels in management or operation by 2026, including in cities like Barcelona, Milan, and Singapore. The US company had earlier invested US$35 million in SHG. Hillhouse Investment, a prominent Asian private equity firm managing US$100 billion in assets, recently made news when a company backed by them, Ascentium, acquired the UAE-based Virtuzone. Now, its real estate unit Rava Partners have acquired the real estate of Hartland International School, valuing it at US$100 million. Bloomberg also reported that Mapletree Investments, the property management company owned by Singapore's sovereign wealth fund Temasek, is also hoping to deploy about US$2 billion in the Gulf region after opening an office in Abu Dhabi last year. In neighbouring Abu Dhabi, New York-based Apollo invested US$500 million in Subordinated Notes issued by Aldar Properties earlier this year. It is one of the region's largest-ever corporate hybrid private placements and brings Apollo's aggregate investment in Aldar to approximately US$1.9 billion across four transactions since 2022. Jamshid Ehsani, Apollo Partner, said at the time: 'We are pleased to broaden our partnership and provide another scaled capital solution to Aldar by investing in a leading real estate franchise that we believe offers an attractive investment opportunity for our clients. Apollo's fourth investment in Aldar underscores our strong partnership with the company as well as our commitment to serving as a leading capital provider to the broader Abu Dhabi ecosystem.' Andrew Love, head of capital markets and commercial agency at Knight Frank, told the wire agency: 'The past two years have been busier for us than the whole previous decade on the capital market side. Demand is growing from overseas buyers, who are coming in search of better returns and lower taxes.' In its H2 2024 Dubai Office Market Review in March, Knight Frank had said average lease rates across key submarkets were up by 9.1 per cent. The company told Bloomberg that in the last 24 months, eight office buildings sales were recorded in Dubai, more than the previous 10 years combined. This was in addition to 15 hotel transactions over the past 30 months. The report credited Dubai's strong bounceback from the COVID pandemic, when it became one of the first cities in the world to be fully opened for business. This was also supported by the government's 'Golden Visa' programme, and the ability to attract businesses like cryptocurrencies and hedge funds through its policies and frameworks.
Bloomberg
16-05-2025
- Business
- Bloomberg
Hillhouse's First Private Credit Fund to Raise Some $700 Million
Elham Credit Partners, the private credit arm of Hillhouse Investment, is set to get anchor commitments of $700 million to $750 million for the first close of its inaugural private credit fund, according to people familiar with the matter. The Singapore-based firm could finalize commitments as soon as late June, the people said, asking not to be identified discussing private matters. The fund may reach between $900 million and $1.1 billion, Bloomberg News previously reported.
Japan Times
12-05-2025
- Business
- Japan Times
CATL starts taking investor orders for world's biggest listing this year
Contemporary Amperex Technology Co. Ltd. (CATL) has started taking investor orders for a Hong Kong stock offering that is likely to be the world's biggest listing this year. CATL, as the Chinese electric vehicle battery giant is known, is seeking to raise as much as HK$41 billion ($5.3 billion), according to its listing document on Monday. That's if the deal is upsized and the greenshoe exercised on top of the base offering of up to HK$31 billion. The Fujian-based company is marketing shares at a maximum price of HK$263 each, or 1.4% lower than Friday's close in Shenzhen but roughly equivalent to Thursday's. Pricing could be decided as soon as Tuesday and the stock is expected to begin trading May 20. The shares rose as much as 3.4% in Shenzhen trading, outperforming the benchmark index. CATL is offering about 118 million shares in the base offering, which could increase to around 136 million if the company upsizes the deal by 15%. With the greenshoe option, the company would be selling nearly 156 million shares. Cornerstone investors, which agree to hold shares from the deal for at least six months, have committed to buy about $2.6 billion worth of stock, according to the prospectus. They include Chinese state-owned oil company Sinopec, the Kuwait Investment Authority and alternative-asset manager Hillhouse Investment. CATL said it was doing the deal in the form of a so-called Regulation S offering, which doesn't allow sales to U.S. onshore investors and exempts the issuer from certain U.S. regulatory filing obligations, confirming an earlier report. The limitations on certain types of U.S. investors indicates that U.S.-China tensions may be spilling into the new-listings landscape. The company also received a waiver from the Hong Kong exchange on the need to carry out a clawback mechanism, which would have required it to allocate more shares to retail investors if demand were high enough, according to the prospectus. The waiver allows for institutional investors to maintain a larger proportion of shares allocated for the Hong Kong listing. The share offering would more than double proceeds in Hong Kong's market for listings this year, which Bloomberg Intelligence predicts will surge to more than $22 billion. The bonanza's been driven by Chinese companies going ahead with their listing plans in the Asian financial hub despite the turmoil brought on by U.S. President Donald Trump's tariffs, which have caused many deals to be postponed in America and Europe. The deal hasn't come without hurdles. CATL was put on a Pentagon blacklist in January based on allegations of its links to the Chinese military — something the company has denied repeatedly. The heat has spread to even some of the banks arranging the deal. In April, a U.S. congressional committee publicly called on JPMorgan Chase & Co. and Bank of America Corp. to stop working on the listing because of CATL's alleged military links — again, denied by the company. But both American banks stuck with the deal. After the sale, CATL plans to use much of the proceeds for its ongoing international expansion in Europe, especially for a big factory in Hungary to supply top clients such as Mercedes-Benz. That may help the company widen its lead in the industry, where it has a a market share of roughly 38%, comfortably ahead of its closest challenger, top EV maker BYD's 17%, according to SNE Research. As for Hong Kong, the deals keep on rolling. Chinese cancer drugmaker Jiangsu Hengrui Pharmaceuticals is also gearing up for a big listing this month, people familiar with the matter have said. Besides JPMorgan and Bank of America, joint sponsors of CATL's offering include China International Capital Corp. and China Securities International. Goldman Sachs Group, Morgan Stanley and UBS Group are also arranging the deal. CATL said it would pay the underwriters a fixed fee of 0.2% of the deal, including shares to be issued if the offering gets upsized and the greenshoe option is exercised. The banks may also receive a 0.6% incentive fee.
Reuters
11-05-2025
- Business
- Reuters
CATL to launch at least $4 billion Hong Kong listing on Monday at around 5% discount, sources say
HONG KONG, May 11 (Reuters) - Chinese battery maker CATL ( opens new tab is launching its Hong Kong public offering on Monday, aiming to raise at least $4 billion at an around 5% discount to its domestic share price, three people with knowledge of the deal said on Sunday. CATL's Shenzhen-listed shares last traded at 248.27 yuan on Friday. The company has finalised investor briefings ahead of book building, having secured around $2.6 billion from cornerstone investors, the three sources said, declining to be named as the information was not yet public. Cornerstone investors include Kuwait Investment Authority and China's oil major Sinopec , which committed $500 million each, and a vehicle under Hillhouse Investment which committed $200 million, two of the sources said. CATL did not immediately respond to a Reuters request for comment. The cornerstone investors did not immediately comment.
Reuters
26-03-2025
- Business
- Reuters
Hillhouse hires co-heads for Japan real estate investment arm from Blackstone, source says
TOKYO, March 26 (Reuters) - Hillhouse Investment has hired co-heads for its Japan real estate investment business, a source familiar with the matter said, as it bulks up its operations in the East Asian country. Hillhouse has hired Jeremy Bleackley and Wataru Goto as co-heads of Japan for Rava Partners, the source said, joining from Blackstone (BX.N), opens new tab where they were managing directors of the Real Estate Group. Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here. The source declined to be named as the information is not public.
