Straits Trading aims to set up Blackstone-style property funds

Singapore

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 property funds.