Warburg Pincus-backed ARA Asset Management Ltd, one of the largest Asian real estate fund managers, is exploring a dual stock market listing, including one in Singapore, in the next two to three years, group CEO and co-founder John Lim said.
ARA Group and its associates have grown their assets under management to S$83 billion from S$36 billion ($26.2 billion) in 2017 when Lim partnered with Warburg Pincus and China's AVIC Trust to take ARA private, valuing the company at S$1.8 billion.
Besides Singapore, other listing options include Shanghai, Hong Kong, London and the United States, Lim said. ARA manages 21 public and private real estate investment trusts (REITs) in Asia Pacific and over 70 private funds. This year, ARA US Hospitality Trust, comprising 38 US upscale hotels, listed in Singapore and raised $498 million.
ARA counts Li Ka-shing-backed CK Asset Holdings and Straits Trading Company Ltd among its other investors. Lim said ARA planned to expand its assets under management to S$100 billion within two years, supported by growing demand from a wide range of global investors hunting for yields.
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