Private equity firm Northstar Group to buy Singapore's largest property broker

Deal stood at S$130m.

According to a report by Reuters, Northstar Group, a private equity firm owned by Indonesian investor Patrick Walujo, has led a management buyout of Singapore's biggest property broker, ERA Singapore Pte Ltd, its second major deal in Singapore in less than a year and a sign of growing interest in the city's real estate market.

The Northstar-led group is paying around S$130 million ($103 million) to purchase ERA from Hersing Corp, a source familiar with the deal told Reuters. Northstar did not disclose the price.

Read full report here.

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