Fortress Mulls Investment In Housing For China's Elderly

Feb 14 2011 | 9:11am ET

New York-based Fortress Investment plans to raise $1 billion for a China fund that would invest in housing for the elderly, according to a report from the Financial Times.

FT, citing Fortress co-founder Wesley Edens, says the U.S. hedge fund and buy-out firm wants to team with a Chinese partner for the venture. Chinese authorities are encouraging private companies to help provide housing for its elderly.

Although the opportunity is there, given China’s rising proportion old people (155 million of China’s 1.3 billion people are over 65 and the number is expected to reach 260 million by 2020), entering the market is not easy.

“It is complicated and difficult to get it right,” said Edens, who went to China in January to meet government officials and corporate executives. The paper says Fortress is in talks with potential partners.

Fortress operates the largest independent living facilities for seniors in the United States and Canada.


In Depth

Star Fund Managers Battered By Rocky Ride In Yields, Currencies

May 28 2015 | 6:05am ET

Some of the biggest names in the investment world have been whipsawed by the recent...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

When Less is More: The Case for Concentrated Equity Strategies

Jun 1 2015 | 7:59am ET

The conventional wisdom is that wide diversification is the “holy grail,” as...

 

Sponsored Content

Editor's Note