Invista Real Estate Investment Management PLC said it it is establishing a fund management platform in Hong Kong and Singapore and has conditionally agreed to acquire the Asian fund management platform of Babcock & Brown Ltd.
The acquisition will provide Invista with new offices in Hong Kong and Singapore together with a small team of experienced fund managers and access to their institutional client investors.
The Asian fund management platform currently manages one fund, the Asian Big Orange Self Storage Fund, which is being acquired by the Invista International Fund.
The Invista International Fund is buying the Big Orange Self Storage Fund for £12.95 million cash. Further financial details were not disclosed.