TOKYO -- Japan's Sumitomo Mitsui Finance and Leasing will acquire ARA Asset Management's private funds business under plans announced Monday, with an eye on accelerating property-related investments in Asia and Australia.
Singapore-based ARA is carving out its private fund operations as a new company called ARAvest. SMFL units SMFL Mirai Partners (Singapore) and Kenedix will acquire 70% and 30% of ARAvest for a total of $270 million.
.JPG?width=240&height=137&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms)
