Founded in 2016 and listed in Hong Kong on Nov 1, 2019, ESR Cayman, whose business involves the development and management of logistics property portfolios, has taken the market by storm. On Nov 3, 2021, ESR Cayman will hold an EGM to obtain permission from its shareholders to acquire real estate fund manager ARA Asset Management, issue new shares as part of the acquisition, and vote in new directors of ESR Cayman. They are John Lim, ARA’s founder; Justin Chiu, a director of property developer CK Asset Holdings; and Rajeev Kannan, a representative from SMBC.

From an AUM of just US$12 billion in 2017 to US$22.1 billion in FY2019 just after the IPO, ESR Cayman will have assets under management (AUM) of US$131 billion ($175.95 billion) following the completion of its acquisition of ARA.

With almost US$53 billion in “New Economy” assets, ESR Cayman is set to become the largest “New Economy” real estate investment manager by the end of this year. Of course, “New Economy” is the buzzword for new, high-growth industries that are on the cutting edge of technology and are believed to be the driving force of economic growth and productivity.

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