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Real Estate

Actis acquires Standard Chartered’s Asia real estate finance business

Actis acquired all of Standard Chartered's principal finance real estate business in Asia, confirmed a spokesman for the emerging markets alternatives investment firm.

Standard Chartered's real estate business will continue to invest in Greater China, South Korea, Southeast Asia and India under Actis. The value of the transaction was not disclosed, the spokesman said.

Actis have already deployed $3 billion in the region through its private equity and energy units. Standard Chartered's assets under management were not disclosed.

"We have sought out a world class team and a portfolio that fits seamlessly into our culture and complements our own approach and experience of successfully operating in the most dynamic growth markets in the world," David Morley, partner and head of real estate at Actis, said in a news release.

All of Standard Chartered's team will join Actis following the acquisition, the spokesman confirmed.

Brian Chinappi, partner and head of Actis real estate in Asia, said in the release, "We are also energized by our shared view that Asia is a significant market for future growth and look forward to working together to realize the prospects the region presents for the business."

Hodes Weill Securities, a global real estate advisory firm, advised Standard Chartered and arranged the capital for the transaction.

A Standard Chartered spokeswoman could not be reached by press time to provide additional details.

Actis has invested about $7.8 billion. Its real estate team is currently investing its third fund.