Gaw Consortium to buy HK malls for HK$23b

Hong Kong

A CONSORTIUM led by Gaw Capital Partners is buying a portfolio of mostly shopping malls in Hong Kong for HK$23 billion (S$4 billion) from Link Real Estate Investment Trust after the assets attracted interest from private equity funds, sovereign wealth funds and local investors.

Private equity firm Gaw will be the largest investor, and Goldman Sachs Group will take a less than 20 per cent stake, said a person familiar with the matter, who asked not to be identified because the information has not been publicly disclosed.