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Sovereign Wealth Funds Briefing - Categorized | Financials, Market

Brookfield Ties Up with CIC to Buy IFC Seoul

Posted on 22 November 2016

Canadian investment shop Brookfield Asset Management got one over on Stephen Schwarzman and his Blackstone Group beating out the US-based firm to acquire the International Finance Centre Seoul from AIG Global Real Estate. The bid, which is said to be backed by sovereign wealth fund China Investment Corporation, has been valued at $2.7 billion.
The mixed-use IFC Seoul complex features three high-rise office towers, a three-level retail mall, and the five-star Conrad Seoul hotel and is located in Yeouido, one of the city’s business hubs. AIG put the complex up for sale earlier this year with Singapore’s Ascendas also in the mix to purchase the project…………………………………….Full Article: Source


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