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Zug-based Partners Group is understood to be the majority investor in the consortium assembled by Ascent Real Estate Investors to acquire a Beijing mixed-use complex.
After letting its previous real estate team spin out following a dispute, the French asset manager is bringing on a new head for the asset class in November.
Bain Capital will eventually add third-party capital to its new real estate business, which will open officially in February.
The parent company, which owned the suburban Philadelphia firm for 11 years, plans to sell the asset manager to its management team and a local private equity shop.
The publicly-traded vehicle, which would be seeded from the company’s balance sheet assets and two non-traded REITs, would have $5.5bn in assets.
As the cornerstone investor in the Morgan Stanley Real Estate Special Situations Fund III, the US investment bank is expected take big profits from the fund’s stake in London’s 20 Fenchurch Street after its sale to Hong Kong food company Lee Kum Kee.
Industry veteran Anuj Puri has launched a residential brokerage, fund and investment management platform in India.
The Florida-focused firm will invest across property types with ties to infrastructure.
The investment arm of the largest privately-owned firm in the US is to spin out its equity real estate business in a move which sees four senior executives leave the firm.  
The debt shop spun out of Cerberus Capital Management in September.
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