Tuesday, May 22, 2007

Oaktree Capital Joins Hong Kong Developer to Build Macau Apartment Towers

(Bloomberg) -- Oaktree Capital Management LLC, a Los
Angeles-based investment firm with $40 billion in assets, will
join a Hong Kong developer to build apartment towers in Macau,
the world's biggest gaming hub.

The project will cost between HK$2.5 billion ($320 million)
and HK$3 billion, said Patrick Wong, chief executive officer of
Tenacity Real Estate Group Ltd., in an interview yesterday. Wong
declined to specify how much each partner would invest.


Read more at Bloomberg Emerging Markets News

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