The transaction builds on Oakley’s experience in the online consumer sector through its previous investments in Facile.it, Parship Elite Group and Verivox.de. Oakley is attracted to these business models because of the strong underlying structural market growth in these segments, their asset-light nature which leads to strong cash conversion, and the ability to accelerate performance through effective KPI management, especially around marketing.

Established in 1996, Casa.it is the number two player in the online real estate advertising market in Italy. The Italian residential property market is estimated to be worth over €75 billion annually, and the penetration of online property portals is expected to grow strongly as the market develops.

Established in 2001, atHome.lu has established a market leading position in the online real estate advertising market in Luxembourg, with over 90% coverage of real estate agents.

Both Casa.it and atHome.lu are well-positioned to replicate the success of leading property portal players in more mature markets such as the UK, Germany and Australia. Under the new ownership structure, the acquired businesses will be integrated more closely to achieve synergies and Oakley will use its experience in similar online business models to improve marketing efficiency and operating performance.

As a subsidiary of REA Group, the business generated revenues of €33.3 million and reported EBITDA of €6.0 million for the year ended 30 June 2016. Fund III intends to partly fund the acquisition with third party debt.

Mediobanca acted as financial advisor to Fund III on the transaction. Completion is expected to take place in Q1 2017.

HONG KONG– Leading Chinese property developer Sino-Ocean Group Holding Limited (“Sino-Ocean”; HKEx: 3377) and global investment firm KKR have entered into a definitive agreement to invest in China leading retail outlets developer and operator Beijing Capital Juda Limited (“Capital Juda” or “The Company”; HKEx: 1329) through a combination of new ordinary shares and perpetual convertible bond securities for a total consideration of HKD1,477 million (US$191 million).

Following completion of the transaction, Sino-Ocean will own an approximate 16% stake in Capital Juda and KKR will own an approximate 12% stake in Capital Juda, in each case on a fully diluted basis.

Capital Juda is a Hong Kong-listed subsidiary of Beijing Capital Land (“BCL”), a leading Chinese real estate developer listed in Hong Kong and controlled by Beijing Capital Group (“Capital Group”). The Company leverages on BCL’s experience and network in real estate development in China as well as its own expertise in commercial development and operations to focus on integrated outlets projects across China.

Sino-Ocean sees great potential for China’s outlets sector given the segment’s defensive fundamentals through economic cycles. It views Capital Juda and KKR as high-caliber partners with established track records that will further develop and grow its property businesses in China.

Beichen Zhong, Executive Director and CEO of Capital Juda, said, “Sino-Ocean and KKR are experienced investors in China’s real estate market and their investment in Capital Juda recognizes the future potential of China’s commercial real estate market, especially in the outlets sector. Combining their resources and extensive industry expertise with our experience in developing and managing outlets will bring along synergies to accelerate the development of the Company’s business.”

Rob Yang, Managing Director at KKR Asia, said, “Capital Juda is a leading real estate developer in China’s outlets space with a strong management team. We are excited about this opportunity and believe the sector will continue to benefit from a rising middle class, growing consumption and urbanization in China.”

The investment marks the second collaboration between Sino-Ocean and KKR, which first established a Chinese real estate joint venture in 2011.

KKR makes its investment from its China Growth Fund. The transaction is subject to customary regulatory and Capital Juda shareholder approvals.

The Hongkong and Shanghai Banking Corporation Limited is the sole financial adviser to Capital Juda.

About Beijing Capital Juda Limited (1329.HK)

BCL and its controlling shareholder Capital Group have completed the acquisition of Beijing Capital Juda in December 2013. Since completion of such acquisition, BCL became the controlling shareholder of Capital Juda. Following the successful acquisition of Xi’an First City Project in 2015, the proposed injection of outlets from BCL, and various ongoing development projects, Capital Juda plans to leverage on BCL’s experience and network in real estate development in China and its own expertise in commercial complex operation to focus on the development of integrated outlets and commercial projects and its strategic deployment in 20 target cities. Capital Juda is committed to develop outlets projects in 20 cities within the next 5 years. For additional information about Capital Juda, please visit Capital Juda’s website at www.bcjuda.com.

About Sino-Ocean Group Holding Limited (3377.HK)

Founded in 1993, Sino-Ocean Group was listed on the Main Board of the Hong Kong Stock Exchange on September 28, 2007 and has become one of the top ten Mainland real estate companies listed in Hong Kong. In March 2008 Sino-Ocean Group was selected as a constituent of the Hang Seng Hong Kong Composite Index and the Hang Seng China-Affiliated Corp Index. The Company is mainly engaged in four business sectors which are respectively the development of mid to high-end residential properties, premium office buildings and retail properties, real estate financing and customer services which consisting of property management and senior living business. For additional information about Sino-Ocean, please visit Sino-Ocean’s website at www.sinooceangroup.com.

About KKR

KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world‐class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners’ capital and brings opportunities to others through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

The CapMan Nordic Real Estate fund has acquired a 50% stake in the Ringsted Outlet centre and forms a partnership with the Danish real estate company TK Development. Ringsted Outlet is the first and leading outlet centre in Denmark. The aim of the investment is to further develop the centre and its services to correspond to the increasing demand.

“We are delighted to have the opportunity to participate in this retail niche that has truly been on the rise in recent years. The growth prospects for the outlet centre are steady and there are several value creation opportunities through improving occupancy and brand offering, among others,” comments Torsten Bjerregaard, Senior Partner at CapMan Real Estate.

“We have previous experience with TK Development working on BROEN Shopping in Esbjerg and we are looking forward to realising the full potential of the Ringsted Outlet with them,” Bjerregaard adds.

The Ringsted Outlet, awarded Denmark’s best outlet centre in 2015, covers 12,500 square meters and is the only architect-designed outlet city in Denmark following the concept of successful international outlet villages. The centre has a unique location along the E20 motorway in Sealand, a 45-minute drive from Copenhagen, with a direct rail link to Copenhagen city centre.

Ringsted Outlet has 44 Danish and some of the world’s largest international brands, including Nike, Hugo Boss, Calving Klein and many more. Currently the outlet is 85% occupied and is expected to be fully let in one year’s time. The centre had 1.5 million visitors in 2015 and has experienced double-digit growth in recent years, both in terms of visitors and turnover.

The focus of the €273 million CapMan Nordic Real Estate fund is to acquire mainly office, retail and residential properties located in established submarkets of major Nordic cities. The fund was established in 2013 and has made 17 investments of which eight are located in Denmark.