Tax-news.com – One of Europe’s largest hedge funds has bought up a reported 18% of the publicly traded shares in the recently launched Hong Kong Link REIT, the world’s largest initial public offering in a real estate investment trust.
According to the Wall Street Journal, the investment by the $3 billion hedge fund Childrens Investment Fund Management (UK) Ltd., also known as TCI, was valued at about US$537 million at the close of trading in the shares on Wednesday.
Citing people familiar with the matter, the report stated that several other hedge funds have also built up large equity positions in the REIT, with some of these funds having bought more than 5% of the shares.
