A year after the merger of EQT and BPEA, the Asia private equity business of the combined entity has rebranded as EQT Private Capital Asia. Separately, The Ascott Limited and CapitaLand Wellness Fund have jointly acquired a 308-unit freehold lodging property in Singapore.
BPEA EQT to be known as EQT Private Capital Asia
A year after the merger of EQT and BPEA, the Asia private equity business of the combined entity has rebranded as EQT Private Capital Asia to reflect the firm’s global name and brand identity.
EQT Private Capital Asia will operate alongside EQT Private Capital Europe & North America to further leverage EQT’s global scale and brand recognition, according to the company release.
The organisational structure, governance, and operational autonomy of the merged entity, however, remain unchanged. Jean Eric Salata, Chairman of EQT Asia and founder of BPEA, will continue to lead EQT Private Capital Asia.
The existing investment committee and decision-making processes will continue as is and the legacy BPEA name will be kept for the flagship fund series going forward, the company stated.
Ascott, C-WELL buy 308-unit lodging property
The Ascott Limited (Ascott), a lodging business unit wholly owned by CapitaLand Investment (CLI); and CapitaLand Wellness Fund (C-WELL) have jointly acquired a 308-unit freehold lodging property in Singapore.
The property, located in the city’s downtown core district, will be upgraded and rebranded under the Ascott brand lyf. The refurbished property will be unveiled as lyf Bugis Singapore in mid-2024.
C-WELL is CapitaLand Investment’s first wellness and healthcare-related real estate fund anchored in Southeast Asia with a target fund size of S$1 billion. This is the fund’s first acquisition since announcing its first close in October-end 2023.