Latham & Watkins has advised ARA Asset Management Limited in its US$500 million equity round of financing, in which Sumitomo Mitsui Banking Corporation (SMBC) was the lead investor
ARA is the largest independent and pure play real assets manager in Asia Pacific with SGD 116 billion in gross assets under management (as at 31 December 2020) across 28 countries. It has grown rapidly since its establishment in 2002, and operates a diversified multi-product platform across assets, strategies and geographies in both the public and private markets, covering real estate investment trusts (REITs) and private funds in real estate, infrastructure and credit globally.
SMBC aims to strengthen its asset management business through the investment by capturing expected growth in the Asian real estate and infrastructure markets, fueled by a shift of funds to alternative asset classes.
The deal team was led by Hong Kong partners Amy Beckingham and Richard Watkins with associates Bing Xi Sia and Joanne Lao, supported by teams across multiple practice groups (including finance, anti-trust, regulatory and others) in Hong Kong, Singapore, Seoul, New York, continental Europe and London.