Singapore’s ARA Asset Management raises stake in Australia’s Cromwell Property

Singapore’s ARA Asset Management raises stake in Australia’s Cromwell Property

Commercial buildings in the central business district are illuminated at dusk in Singapore. Photographer: Brent Lewin/Bloomberg

ARA Asset Management, a Warburg Pincus-backed real estate fund manager based in Singapore, has raised its stake in Australia-listed real estate investor Cromwell Property Group just days after it criticised the Australian firm for alleged poor strategic and operating performance.