N&Q: Family dynasty buys property portfolio; family office deals…

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Family/property deal

The Weston family, one of Canada’s wealthiest, has bought a property group called Canadian Real Estate Investment Trust for C$3.9 billion. Reports say the deal will create a portfolio of 752 properties with one Canada’s largest pipelines of commercial land for future development once the Trust is merged with other Weston family property investments. The combined entity will have an enterprise value of $16 billion, say reports.

Family office deals

An interesting development in the world of family offices and private equity groups was a reported race to buy Indian-based fashion retailer chain Vishal Mega Mart. Azim Premji’s family office PremjiInvest is bidding for the group and it’s competing against big private equity names like KKR & Co and Carlyle Group. Why’s this interesting? It shows big family offices are competing with private equity royalty these days for the best deals.

The family investment office of Sutures India chairman Chandrasekhar Gopalan has invested $1.5 million in an Indian online bike rental startup called WickedRide.

Yuri Milner, the Russian tech billionaire, has invested in an Indian fintech startup called Udaan. Milner, who’s based in California, participated in a Series B funding round worth Rupee 3.2 billion.