Goodman strikes gold for sovereign wealth funds
The Aussie developer, partly owned by China’s CIC, chalks a big profit for investors in its logistics fund on imminent completion of a Hong Kong development.
China’s sovereign wealth fund CIC paid $500 million for its 18% stake in Goodman Group in August 2009. That stake has now doubled in value.
Goodman Group is a $6 billion Australian-listed industrial property developer. It is active in Australia, Europe and Asia and is thinking about a dual-listing somewhere in Asia, as part of its future plans.
It has an annual pipeline of $2 billion of developments, and founder Greg Goodman was in Hong Kong last week to undertake the topping ou…
Please sign in or register
for free access to 1 article per month from AsianInvestor’s content and archives of over 16,000 articles.
¬ Haymarket Media Limited. All rights reserved.