KKR and Gaw Capital have partnered to acquire Hyatt Regency Tokyo in Japan while TPG is reportedly considering the sale of its Singapore-based healthcare company.

KKR, Gaw acquiring Hyatt Regency Tokyo

Buyout major KKR and PE firm Gaw Capital have agreed to acquire the iconic luxury hotel Hyatt Regency Tokyo for an undisclosed amount, according to an announcement.

The two PE firms will acquire the 746-room luxury hotel from Odakyu Electric Railway Company, which is looking to focus its resources on redevelopment around the bustling Shinjuku station.

The hotel, built in 1980, sits in a prime location, among large-scale Class A office buildings and in close proximity to public transportation networks, including Tochomae and Shinjuku Stations.

The acquisition, which is subject to regulatory approval, marks KKR’s first hotel investment in Japan and adds to its hospitality experience in the Asia Pacific and globally, according to the announcement.

KRR is making its investments from Asia Real Estate Partners.

“As Japan emerges strongly from the pandemic as a leading travel destination and domestic and international business travel bounce back, we see great potential to refurbish and to enhance the Hotel’s offerings to both corporate and leisure guests while retaining its unique heritage,” Kensuke Kudo, Director, Real Estate, at KKR, said.

TPG weighs sale of TE Asia Healthcare Partners

PE firm TPG is reportedly considering the sale of its Singapore-based healthcare company, TE Asia Healthcare Partners, at a valuation of nearly $1 billion.

According to a Bloomberg report, investment funds and other hospital operators have shown initial interest in the assets. However, the report said TPG could still decide against proceeding with the deal.

TE Asia was co-founded by group CEO Eng Ask Meng and TPG in 2014. It focuses on oncology, cardiology, orthopedics, and aesthetics. The company operates hospitals and clinics across Southeast Asia.

TPG’s divestment plan comes as its total assets under management rose $135 billion on December 31, 2022, compared with $114 billion a year ago, an increase of 19% year-on-year.

TPG raised $30 billion last year, of which $3.6 billion was in Q4 2022. The fresh capital raised in 2022 included $8.9 billion in its TPG IX vehicle, $3.4 billion in Asia VIII, and also $6.8 billion in TREP IV, which is part of TPG Real Estate Partners.