Investors - NOVEMBER 28, 2016

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KKR creates second Chinese real estate partnership

by Andrea Waitrovich

KKR has entered into a joint venture with Chinese property developer Sino-Ocean Group Holding to invest in Beijing Capital Juda, a Chinese retail outlets developer and operator, for $191 million.

KKR makes its investment from its China Growth Fund.

Following completion of the transaction, Sino-Ocean will own an approximate 16 percent stake in Capital Juda and KKR will own an approximate 12 percent stake in Capital Juda, in each case on a fully diluted basis.

The investment marks the second collaboration between Sino-Ocean and KKR, which first established a Chinese real estate joint venture in 2011.

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