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Hong Kong's Gaw Capital turns faded properties into gems

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Published Mon, Aug 3, 2015 · 09:50 PM

DeeperDive is a beta AI feature. Refer to full articles for the facts.

Hong Kong

WHEN InterContinental Hotels Group announced the sale of its Hong Kong flagship for US$938 million to a group led by Gaw Capital Partners on July 10, even insiders were caught off guard.

In a town dominated by a handful of multi-billionaire property developers such as Li Ka-shing and Lee Shau-kee, the sale of the coveted harbourfront hotel to a little-known local private equity fund was unexpected.

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