Hong Kong PE Gaw Capital said to join $1.9b deal to acquire Swire’s office assets

Office space in Shanghai, China. Photo: LYCS LYCS/unsplash

Gaw Capital Partners is in talks to join Henglilong Investments Ltd. in its HK$15 billion ($1.9 billion) acquisition of Swire Properties Ltd.’s Cityplaza Three and Cityplaza Four office buildings in Hong Kong, people with knowledge of the matter said.

The investors are currently seeking loans to finance the purchase, the people said, asking not to be identified because the information is private. The Hong Kong Economic Times reported earlier Tuesday that Gaw Capital, a Hong Kong-based private-equity firm, was joining the deal, citing unidentified people.

Swire agreed to sell its entire stakes in the two office towers in June, adding to a spate of deals in the world’s priciest office market. Two billionaire Chinese property developers earlier this year agreed to join a consortium to buy The Center from Li Ka-shing’s company for a record HK$40.2 billion.

An official at Gaw Capital and a representative for Swire Properties declined to comment. A person who answered the phone at the Hong Kong office of Henglilong, which is controlled by businessman Chen Chang-wei, said nobody was immediately available to comment.

Other people familiar with the matter said in August that Henglilong is seeking financing of HK$12 billion-equivalent in U.S. dollars to back its purchase of Swire’s stakes.

Bloomberg

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.