2007年12月10日 高盛募集20亿美元投资亚洲房地产

高盛(Goldman Sachs)募集了20亿美元准备用于亚洲房地产投资，此举可能会加剧对中国和印度等高速增长市场资产的竞争。

Goldman Sachs has amassed¹ $2bn to use for property investments in Asia, a move likely to intensify² competition for assets in fast-growing markets such as China and India.

10年来，该银行一直是日本房地产领域一个引人瞩目的投资者，但它已决定将大笔资源分配到整个亚洲地区的房地产投资机会中。

The bank has been a prominent investor³ in Japanese property for a decade, but has decided⁴ to allocate⁵ significant resources to real estate opportunities across the region.

与之竞争的投资银行——尤其是摩根士丹利(Morgan Stanley),近来已加大了在日本以外亚洲地区的此类投资力度，并筹集了创纪录水平的资金，目标是一些增长迅速的市场。

Rival investment banks – Morgan Stanley in particular – have recently stepped up such investments in Asia outside Japan and raised record funds to target fast-growing markets.

高盛计划投资于亚洲所有的房地产资产类别，包括直接购买楼宇，投资房地产开发，以及入股上市地产公司等。以某种方式衡量，如果这20亿美元投资出去，将使得高盛投放亚洲的资产增长两倍。

Goldman plans to invest across Asia’s real estate asset classes, including direct purchases of buildings, in development opportunities and by taking equity⁶ stakes in listed property companies. If invested, the $2bn would – by some measures – triple the bank’s equity committed to Asia.

此笔资金并不包括杠杆融资，将直接来自于高盛的资产负债表及其管理下的房地产私人股本基金。 The capital, which excludes leverage⁷, will be supplied from the bank’s balance sheet and from real estate private equity funds managed by Goldman.

高盛的发展中市场房地产基金(Developming Markets Real Estate Fund)于10月结束筹资，共筹集21亿美元的资金——预计其中约三分之二将用于亚洲。高盛还将通过白厅房地产基金为投资融资。

Goldman’s Developing Markets Real Estate fund closed in October, raising $2.1bn – about two-thirds of which is expected to be spent in Asia. The bank will also fund investments through its Whitehall real estate vehicle.

高盛正向印度和中国总部委派四位董事总经理。作为该行业扩张的一部分，他们将分别在香港、新加坡和孟买就任。

Goldman is assigning four managing directors to India and China, to be based in Hong Kong, Singapore and Mumbai, as part of its expansion in the sector⁸.

争夺亚洲房地产的竞争极其激烈，推动了估值的快速上升。这引发一些分析师们发出警告，称印度等国即将发生价格回落。对冲基金也大量涌进亚洲，它们在流向股市之前就已对各家房地产公司进行了投资。 Competition for real estate assets in Asia is extreme and has pushed up valuations, leading some analysts⁹ to warn of imminent¹⁰ price corrections in countries such as India. Hedge funds have also poured in to Asia, in?vesting in real estate companies before?they?join the stock market.

不过，高盛的发展中市场全球房地产业务主管让?德?布塔莱斯(Jean De Pourtales)表示：“房地产市场的估值（较高）是一个全球问题。像印度这样的国家，其吸引力在于它仍有巨大的长期增长前景。”

However, Jean De Pourtales, Goldman’s real estate global head of developing markets, said: “The [high] valuations in real estate markets are a worldwide issue. The attraction of a country such as India is that it still has tremendous long-term growth prospects¹¹.”

他补充道，中国和东南亚国家也将是他的团队的关注重点。

He added that China and south-east Asia would also be a focus for his team.

同时，各投资银行也在物色员工，以满足亚洲房地产客户在融资和并购咨询服务方面的需求。高盛去年就从瑞银亚洲(UBS Asia)挖来了一个房地产投行团队。

Investment banks are also seeking staff to service demand from Asian clients in the property sector for advice on raising capital and mergers¹² and acquisitions. Goldman last year poached a team of real estate investment bankers from UBS Asia.