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

Why Ponzi Schemes Work: An In-Depth Look At The Allen Stanford Fraud

Dec 21 2014 | 10:30am ET

Texan Allen Stanford first appeared on the radars of financial regulators in 1997...

Lifestyle

Hedgie Funds US Squash Program

Dec 24 2014 | 8:46am ET

Squash, anyone?

Guest Contributor

EidoSearch’s Top Three Market Projections For 2015

Dec 23 2014 | 4:03am ET

It is that time of year again when prognosticators make their big market calls for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.