The Ascott has entered into a 50:50 joint venture with Qatar Investment Authority to set up a US$600 million serviced residence fund with an initial focus on the Asia Pacific and Europe regions. This is Ascott’s largest private equity fund to date. With a target to launch six new funds with total assets under management of up to S$10 billion by 2020, this joint venture is part of CapitaLand’s efforts to further grow its fund management business and pursue market opportunities with a stable of blue chip capital partners.
The subsidiary of Qatari sovereign wealth fund, the Qatar Investment Authority is taking a 20% stake in Heathrow operator BAA in a £900 million deal which will further diversify its interests in infrastructure.
Following a series of deals, the Qatar Investment Authority has become the largest shareholder in Fairmont Raffles Holdings International. The group – which also operates the Swissôtel brand – has 88 hotels and resorts in 27 countries worldwide, including the famous Raffles Hotel, Singapore.