May 15, 2019 / 11:31 AM / 5 days ago

WeWork owner to launch real estate acquisition platform

May 15 (Reuters) - WeWork owner The We Company on Wednesday launched a $2.9 billion investment acquisition platform, ARK, to buy and develop commercial property around the world.

Ivanhoé Cambridge, a unit of Canada-based investor CDPQ, will also provide capital to support the platform, The We Company said. (reut.rs/2JMBbq1)

WeWork was valued at about $47 billion in a private fundraising round in January, as it heads towards what may be the year’s largest IPO after ride-hailing firm Uber. (Reporting By Aparajita Saxena in Bengaluru; Editing by Shounak Dasgupta)

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