UBS has reportedly written off more than A$500m of Stella Group’s debt in return for a 40% stake in the travel and hospitality company.The group's hospitiality arm operates a portfolio of more than 140 resorts, hotels and apartments.
The Connecticut-based placement agent has promoted David Love and Franklyn Chang to lead its efforts in Asia Pacific and Europe, respectively. It has also promoted four other professionals across its Asia and US offices.
Philip Levinson has been hired by the New York-based private equity and real estate firm, which is considering opening additional Asian offices. Levinson joins following spells at RREEF and LaSalle Investment Management.
Lim Siong Guan will take responsibility for the organisational development of GIC Real Estate, GIC Asset Management and GIC Special Investments. GIC has also appointed Tony Tan as chairman of GIC Real Estate.