Blackstone, Gaw Capital mull bids for Ascendas Hospitality Trust

Singapore

PRIVATE equity investors Blackstone Group LP and Gaw Capital Partners are weighing separate bids for Singapore's Ascendas Hospitality Trust, people familiar with the matter said, eyeing a target with a market value of US$600 million.

The potential offers are being considered as bankers say that falling market valuations and higher interest rate expectations are set to stoke prospects for mergers and acquisitions of assets owned by the city state's property trust sector.