Merrill Lynch Starting Asian Property Fund
SOURCE: The New York Times
The new Pacific Rim real estate fund which will be worth from $2.5 - $3 billion is being started by Merrill Lynch. It will invest in a number of different types of property across the Pacific Rim and will include India, Australia, Japan, and the rest of Asia.
The launch of the funds comes at a time when many investors are looking to Asia as a safe haven in the wake of the credit crunch set off by U.S. subprime woes. Both the European and U.S. property markets are showing signs of waning due to the global credit crunch. But, Asia is still showing strength with a 26% jump in direct property investment in 2007
Other global investment banks including UBS, Morgan Stanley, and the Blackstone Group are planning on launching Asian property funds. As well, CLSA Asia-Pacific Markets have already started raising funds for their pan-Asia property fund which will have roughly $1 billion focused on China, Japan, Taiwan, Hong Kong and Singapore.
Read full report »
The new Pacific Rim real estate fund which will be worth from $2.5 - $3 billion is being started by Merrill Lynch. It will invest in a number of different types of property across the Pacific Rim and will include India, Australia, Japan, and the rest of Asia.
The launch of the funds comes at a time when many investors are looking to Asia as a safe haven in the wake of the credit crunch set off by U.S. subprime woes. Both the European and U.S. property markets are showing signs of waning due to the global credit crunch. But, Asia is still showing strength with a 26% jump in direct property investment in 2007
Other global investment banks including UBS, Morgan Stanley, and the Blackstone Group are planning on launching Asian property funds. As well, CLSA Asia-Pacific Markets have already started raising funds for their pan-Asia property fund which will have roughly $1 billion focused on China, Japan, Taiwan, Hong Kong and Singapore.
Read full report »
