Private Equity Group PAG, CITIC Capital, Ares Management & Sovereign Wealth Funds Abu Dhabi Investment Authority & Mubadala Investment Company Invest
5th April 2024 | Hong Kong
Private equity group PAG, CITIC Capital, Ares Management & sovereign wealth funds Abu Dhabi Investment Authority (ADIA) subsidiary & Mubadala Investment Company have announced the investment of $8.3 billion to own 60% of newly formed & largest shopping mall manager in the world with 496 large-scale shopping malls in China Newland Commercial Management, and (China) Dalian Wanda Commercial Management owning the remaining 40%. Announcement (30/3/24): “PAG, together with CITIC Capital, funds managed by Ares Management (“Ares”), Platinum Peony B 2023 RSC Limited (a wholly-owned subsidiary of the Abu Dhabi Investment Authority or “ADIA”), and Mubadala Investment Company (“Mubadala”), today announced the signing of a joint investment of approximately USD8.3 billion for a 60% stake in Newland Commercial Management, a manager of shopping malls. Dalian Wanda Commercial Management Group Co. Ltd. holds the remaining 40%. Newland is a newly formed holding company of Zhuhai Wanda Commercial Management Group Co., Ltd., a leader in shopping mall management for over 20 years which currently manages 496 large-scale shopping malls across China. In August 2021, PAG, CITIC Capital, Ares and other existing investors invested in this business. In the three years since then, it has consistently outperformed its financial targets and has generated net profit of USD0.8 billion in 2021, USD1.1 billion in 2022, and USD1.3 billion in 2023, representing an annual growth rate of ~32%. On December 12, 2023, PAG and Dalian Wanda Commercial Management Group jointly announced the signing of an investment agreement framework to restructure Zhuhai Wanda Commercial Management. The agreement signed today implements the December 12 agreement. This investment will facilitate corporate governance independent from its former parent, provide better incentives for its management, and support Newland’s continued operational improvement. The investors are committed to further strengthening Newland’s market-leading position in the industry.
“ Private Equity Group PAG, CITIC Capital, Ares Management & Sovereign Wealth Funds Abu Dhabi Investment Authority & Mubadala Investment Company Invest $8.3 Billion to Own 60% of Newly Formed & Largest Shopping Mall Manager in the World with 496 Large-Scale Shopping Malls in China Newland Commercial Management, China Dalian Wanda Commercial Management Owns Remaining 40% “
- Article continues below - Quick Links, Ads & Announcements Caproasia Access | Events | Summits | Register Events | The Financial Centre The 2024 Investment Day | 2024 Family Office Summits | Family Office Circle Sign Up Basic Member: $5 Monthly | $60 Yearly Newsletter Daily 2 pm (Promo): $20 Monthly | $180 Yearly (FP: $680) The 2024 Investment Day 6th March Hong Kong | 13th March Singapore Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Taking place on 6th March 2024 in Hong Kong, 13th March 2024 in Singapore. Visit | Register here The 2024 Family Office Summit10th April Hong Kong | 24th April Singapore Join 100+ single family offices & family office professionals in Hong Kong & Singapore Links: 2024 Family Office Summit | Register here
David Wong, Partner and Co-Head of Private Equity at PAG: “This investment reflects the expectation and recognition of Newland’s long-term growth potential by international institutional investors. We like the competitive edge and first mover advantage that Newland has built and we think these advantages will allow it to generate stable and growing cash flow to investors.”
Yichen Zhang, Chairman and Chief Executive Officer of CITIC Capital: “CITIC Capital believes in the large potential of the business services market in China. As a frontrunner in the industry, Newland has significant competitive advantages and growth prospect. We are confident that this investment will provide Newland with lasting stability and support, facilitating the company’s robust and rapid growth, and drive further value creation.”
Private Equity Group PAG, CITIC Capital, Ares Management & Sovereign Wealth Funds Abu Dhabi Investment Authority & Mubadala Investment Company Invest $8.3 Billion to Own 60% of Newly Formed & Largest Shopping Mall Manager in the World with 496 Large-Scale Shopping Malls in China Newland Commercial Management, China Dalian Wanda Commercial Management Owns Remaining 40% Shanghai, China
About Newland Commercial Management
Newland Commercial Management is the holding company of Zhuhai Wanda Commercial Management Group Co., Ltd. and the world’s largest shopping mall management company. Over the past 20 years it has established partnerships with more than 25,000 brands and built a strong competitive edge in the market. The company currently manages 496 large-scale shopping malls in 230 cities across China with about 70 million square meters of floor space under management, serving more than 100,000 commercial tenants. The company is committed to green and high-quality development with a majority of the shopping malls under its management having obtained Green Mall certification.
About PAG
PAG is a leading private equity firm focused on Asia-Pacific with three core businesses: Real Assets, Credit & Markets and Private Equity (buyouts and growth). It manages capital on behalf of nearly 300 global institutional investors. PAG has more than 760 employees in 15 key offices globally, and approximately USD55 billion in assets under management.
About CITIC Capital
Founded in 2002, CITIC Capital Holdings Limited is an alternative investment management and advisory company. The firm manages over USD16 billion of capital across 100 funds and investment products through its multiple asset class platform covering private equity, real estate, structured investment & finance, and asset management. CITIC Capital has over 290 portfolio companies that span 11 sectors and employ over 500,000 people around the world.
About ADIA
Established in 1976, the Abu Dhabi Investment Authority (ADIA) is a globally-diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long-term value creation.
About Mubadala Investment Company
Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi. Mubadala’s $276 billion portfolio spans six continents with interests in multiple sectors and asset classes. It leverages its deep sectoral expertise and long-standing partnerships to drive sustainable growth and profit, while supporting the continued diversification and global integration of the economy of the United Arab Emirates.
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of December 31, 2023, Ares Management Corporation’s global platform had approximately $419 billion of assets under management, with approximately 2,900 employees operating across North America, Europe, Asia Pacific and the Middle East.
Managing $20 million to $3 billion. Investing $3 million to $300 million. For Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm. Join Events & Find Services Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more. List hard-to-find financial & private wealth services. Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. Join interviews & editorial and be featured on Caproasia.com or join Investments, Private Wealth, Family Office events. Contact us at [email protected] or [email protected] Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Quick Links Caproasia Access | Events | Summits | Register Events | The Financial Centre The 2024 Investment Day | 2024 Family Office Summits | Family Office Circle 2021 Data Release 2020 List of Private Banks in Hong Kong2020 List of Private Banks in Singapore 2020 Top 10 Largest Family Office2020 Top 10 Largest Multi-Family Offices2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM For Investors | Professionals | Executives Latest data, reports, insights, news, events & programs Everyday at 2 pm Direct to your inbox Save 2 to 8 hours per week. Organised for success Register Below For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors Get Ahead in 60 Seconds. Join 10,000 + Save 2 to 8 hours weekly. Organised for Success. Sign Up / Register You are:
InvestorProfessionalFamily OfficeExecutive
Select:
SubscriptionMembershipEvents
Interests / Events / Summits / Roundtables / Networking:
Professional InvestorPrivate WealthFamily OfficePrivate BankingWealth ManagementInvestmentsAlternativesPrivate MarketsCapital MarketsESG & SICEO & EntrepreneursTax, Legal & RisksHNW & UHNWs Insights
Your Name*
Company*
Job Title*
Email 1 (Work / Personal)*
Email 2 (Work / Personal)
Country
- Manage $20 million to $3 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
- Professional Investor
- Family Office
- HNW Partnership
- Family Office Circle
- Family Office Networking
- Family Office Roundtable
- The Family Office Summit
- March 2024 - Hong Kong
- March 2024 - Singapore
- June 2024 - Hong Kong
- June 2024 - Singapore
- Sept 2024 - Hong Kong
- Sept 2024 - Singapore
- Visit: The Investment Day | Register: Click here
- The Investment Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
Owl Media Group takes pride in providing social-first platforms which equally benefit and facilitate engagement between businesses and consumers and creating much-needed balance to make conducting business, easier, safer, faster and better. The vision behind every platform in the Owl Media suite is to make lives better and foster a healthy environment in which parties can conduct business efficiently. Facilitating free and fair business relationships is crucial for any thriving economy and Owl Media bridges the gap and open doors for transparent and successful transacting. No advertising funds influence the functionality of our media platforms because we value authenticity and never compromise on quality no matter how lucrative the offers from advertisers may seem.