Christie Ou
A group of South Korean institutional investors has helped finance HNA’s acquisition of a commercial building from Brookfield.
The bid will potentially bolster its presence in the home loan market in Australia after it purchased GE Capital’s lending arm two years ago.
The fund is targeting a final close in September this year and has deployed over $100m since March 2016.
Two partners have become advisors while another has resigned from the firm, which is targeting distressed deals in China.
The fund will look at two distinct strategies in the country over the next three to four years.
The firm reached a first close of €180m for its latest pan-European private debt fund last month.
The Korean pension is seeking two international managers to work with domestic firms.
The fund has received commitments from ICBC Asia and New Jersey Division of Investment.
The firm’s loan fund series is back in the market with the third fund setting the same target as its predecessor.
The CITIC-backed asset manager is venturing into the private credit space in Asia with Greg Park at the helm.