On April 21, Dasin Retail Trust’s trustee-manager announced that Zhang Zhencheng, chairman and controlling shareholder of the trustee-manager, had entered into a non-binding memorandum of understanding with ARA Capital Group, a unit of ARA Asset Management to pursue a strategic partnership. Under the MOU, ARA Asset Management would acquire 5% of Dasin Retail Trust’s units and 50% of the trustee-manager. If confirmed, the agreement would give ARA Asset Management a further $2.5 billion in AUM.

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