Why Did Aviva Sell its APAC Real Estate Business to JP Morgan

Aviva Investors, the investment arm of insurer Aviva PLC, has sold its Asia-Pacific (APAC) real estate business to JP Morgan Asset Management. Aviva has encountered increased competition from private equity players in APAC real estate from firms such as Blackstone Group. Nearly a year ago, Aviva’s APAC real estate division hired the corporate finance division of Jones Lang LaSalle in January 2014 to market its Asia-Pacific property platform to buyers. Aviva found competitor JP Morgan as a buyer. Globally, JP Morgan has US$ 82 billion of real estate, infrastructure and maritime assets under management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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