World’s largest equity fund turns sights on China through HK

Blackstone Group makes play for HK-based Tysan Holdings.

The real-estate fund of Blackstone Group LP is targeting growth in China’s property sector with its offer of US$322 million to buy Tysan Holdings Ltd based in Hong Kong.

This will be one of the first investments for Blackstone Real Estate Partners Asia fund, the firm's first pan-Asia property fund, which was formed earlier this year.

Blackstone is currently engaged in real-estate development in Shanghai, Dalian, Nantong and Wuhan.

Based in New York, Blackstone is the largest alternative investment firm in the world and is also the world’s largest private equity firm. It specializes in private equity, credit and hedge fund investment strategies and financial advisory services.

Tysan Holdings engages mainly in residential-property development and investment in Shanghai, Tianjin and Shenyang, apart from its construction business in Hong Kong.

It an investment holding company that engages in foundation piling, electrical and mechanical engineering, building construction, machinery leasing and trading and property related activities in Hong Kong, Macau, and China.