ARA to raise US$1b for new pan-Asian infrastructure fund

Singapore

ARA Asset Management, a real-estate fund manager backed by Hong Kong tycoon Li Ka-shing, will soon be adding infrastructure assets such as toll roads, airports, utilities and renewables to its real estate portfolio in a drive to grow assets under management (AUM).

Its newly formed infrastructure arm, ARA Infrastructure, is looking to raise US$1 billion in equity for its first private fund in the beginning of the third quarter.