The Chinese sovereign wealth fund has committed to the bank's latest global property fund, according to reports. Morgan Stanley Real Estate Fund VII Global is likely to close at $6bn, not its original $10bn target.
The Banyan Tree-Philippines Hospitality Fund will cover the development costs of two integrated island resorts in the country, one of which will cost more than $200m. The vehicle will allow the firm to get a 'foothold' in the country's growing tourism industry.
The private equity firm will sell off one of the Australian company's subsidiaries, reported to be its oncology and cardiology diagnostics business, which could fetch up to A$210m. CVC Asia Pacific bought I-Med's parent in an A$2.7bn deal in 2006.