…nt firm that already manages $1 billion capital, to invest in their funds. Fosun Keeps With Platform Approach Fosun would be joining Blackstone, Brookfield and Dalian Wanda in India’s property market In moving into India, Fosun appears to be keeping with a platform investment approach similar to how it has entered the Japanese, Australian and UK markets. In late 2014 Fosun acquired Japan’s IDERA real estate for an undisclosed sum, before going on…
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Fosun Bags US Deal with $65M Stake in Brookdale Senior Living
…Group and HNA Group cope with hangovers from their overseas buying binges. Fosun Succeeds Where Zhonghong Failed Fosun’s investment comes after another mainland conglomerate failed in a potential $4 billion bid to buy out Brookdale last year. In June, Zhonghong Zhuoye Group, which had earlier bought out Blackstone’s $449 million stake in SeaWorld, was said to be close to acquiring Brookdale. Talks stalled after the Chinese firm hit a roadblock in…
S&P Downgrades Fosun Over Worsening Liquidity, Short-Term Borrowings
…rted earlier this month that the company was planning to trim its stake in Fosun Tourism Group after previously reducing its shareholding in Fosun Pharma, which owns the marketing rights to the Pfizer-BioNTech COVID-19 vaccine in China. In March, Fosun agreed to repurchase a 50 percent stake in its Bund Finance Center for RMB 6.34 billion ($1 billion), nearly six years after offloading the half-interest in the Shanghai waterfront complex. Upon acq…
Moody’s Downgrades Fosun as Conglomerate Cuts Ties With Rating Service
…s estimated. The drop in market value drove a contraction of 10 percent in Fosun’s estimated portfolio value as of June. Fosun chairman Guo Guangchang will no longer play ball with Moody’s (Getty Images) Another complicating factor is a financial policy that tolerates high risk and depends on short-term debt to fund long-term investments. Moody’s reckons that cash on hand at the holding-company level is insufficient to cover Fosun’s short-term deb…
Fosun Focuses on Europe with $381M Milan Real Estate Deal
…before the UK JV was established, and no mention of Resolution was made in Fosun’s statement regarding its Milan purchase. Fosun Makes a European Push The Chinese investment company has shown a growing interest in European assets this year, targetting everything from tourism to finance, as well as real estate. Fosun boss Guo Guangchang seems to have Europe on his mind these days Earlier this month Fosun agreed to acquire Germany’s H&A Bank for as…
Fosun Acquires Frankfurt Office Complex in $53.5M JV Deal
…hina and other Asian nations increasingly look to the continent for yield. Fosun Looks Forward to More Deals After Frankfurt Buy Is Fosun’s Guo Guangchang turning his attention to Europe? “Estrella is an important step for Fosun Property’s European investment and management platform, which marks the debut with Resolution Property on the European mainland and a significant commitment to the German market,” Fosun Property President Alex Gong, was qu…
Fosun Buys Stake in 47-Storey NYC Luxury Tower
…hinese interest in the New York property market. New York Developer Sought Fosun as Partner Fosun acquired an undisclosed stake in the 32,500 square metre (350,000 square foot) luxury building near the Empire State Building from New York developer JD Carlisle for an undisclosed sum. The area around 126 Madison Avenue how it looks today. (Image via PropertyShark). The development project is being built on a site aggregated by JD Carlisle, which the…
Fosun Enters Investment JV with UK’s Resolution Property
…an Investment & Management platform,” said Xu Xiaoliang, vice-president of Fosun Group & President of Fosun Property. He added that, “After acquiring the Japanese IDERA Capital in 2014, we have focused on finding experienced and professional overseas investment & management platforms as our priority. According to it’s website, Resolution has acquired, developed, financed and disposed of over €2.6 billion of assets and has managed 1.86 million squa…
Fosun Said Nearing $1.1B Refinance of NYC Trophy Tower
…leasing up of the 2.2 million square foot (208,000 square metre) property. Fosun Remakes a Trophy Tower Fosun’s acquisition of the former headquarters of Chase Manhattan Bank marked the largest Chinese acquisition of a single building in the US at the time, part of a nascent wave of outbound mega-deals by mainland firms including Greenland Group and Dalian Wanda Group. Built in 1961, the rectilinear tower is located between Pine, Liberty, Nassau,…
Fosun Raising A Fund to Invest Globally
…tment tip from Mr Liang, who currently ranks #132 on Forbes list of Chinese billionaires, this CEO differentiated Fosun’s investment strategy from other companies by pointing out two distinct factors that Fosun insists upon in each deal. They only buy “good” things Fosun only buys at low prices. I will be sure to share that one with my broker next time the portfolio starts to sag a bit….
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