US hedge fund TRG buys 50% of Arch Capital

The Rohatyn Group (TRG) has acquired 50% of Hong Kong private equity firm Arch Capital Management in a share swap agreement to provide it with a foothold in the Asian emerging markets property sector. The $3 billion US-based hedge fund would not disclose the value of the deal with Philippine conglomerate Ayala Corporation and subsidiary Ayala Land, which agreed to exchange their combined 50% stake in Arch for shares in TRG. Ayala is an existing minority shareholder in the US fir…