Private equity groups are planning to cut their exposure to Chinese real estate as concerns mount over the health of the sector following the default last week of indebted developer China Evergrande.
Coller Capital, a London-based private equity specialist, said in a report on Monday that almost a third of groups with exposure to China would decrease their investments in the country’s real estate sector over the next three years. Not one investor said they planned to increase their investments.
The report came days after Evergrande, the world’s most indebted property group, was downgraded to “restricted default” by rating agency Fitch.
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