Pace announces closing of investment in MahaNakhon development

The funds were managed by affiliates of Apollo Global Management (together with its consolidated subsidiaries), one of the world’s largest alternative investment management firms, and Goldman Sachs, a global investment bank. 
The investors will hold 49 per cent in The Bangkok Edition Hotel and MahaNakhon Cube, which is the retail component of the MahaNakhon development and the tallest observation deck and rooftop bar in Thailand.
Funds managed by affiliates of Apollo have invested about Bt5.9 billion for a 34-per-cent stake, and Goldman Sachs has invested Bt2.5 billion for a 15-per-cent stake. The capital increase in Pace’s two subsidiaries has already been registered.