Warburg Pincus to own 48.7% of ARA
US private equity firm to raise its stake from 30.72% after Chinese trust exits as shareholder in Reit manager
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US PRIVATE equity firm Warburg Pincus is set to own nearly half of ARA Asset Management, following the impending exit of AVIC Trust as a shareholder in the real estate fund manager.
ARA on Tuesday announced that AVIC Trust, the investment arm of Shanghai-listed AVIC Capital, will dispose of its 20.48 per cent stake. ARA founder and group chief executive John Lim said the trust has helped and partnered the group in creating new fund products in mainland China.
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