Goldman Sachs has amassed $2bn to use for property investments in Asia, a move likely to intensify competition for assets in fast-growing markets such as China and India. Financial Times
The bank has been a prominent investor in Japanese property for a decade, but has decided to allocate significant resources to real estate opportunities across the region.
Rival investment banks – Morgan Stanley in particular – have recently stepped up such investments in Asia outside Japan and raised record funds to target fastgrowing markets.
Goldman plans to invest across Asia’s real estate asset classes, including direct purchases of buildings, in development opportunities and by taking equity stakes in listed property companies. If invested, the $2bn would – by some measures – triple the bank’s equity committed to Asia.
The capital, which excludes leverage, will be supplied from the bank’s balance sheet and from real estate private equity funds managed by Goldman.