• Blackstone backs Sentosa

Blackstone is buying into the W hotel on Singapore’s Sentosa island. The private equity investor is teaming up with Malaysia’s CIMB Bank to buy cashflows from the Sentosa Cove resort project, reports the Wall Street Journal.
The deal, part of a refinancing, gives Blackstone a fixed payout based on a SGD367m investment. The W development sits alongside waterfront residences, half of which are already sold.
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