Fund mulling $4B WeWork investment is Saudi-backed: report

Los Angeles /
Mar.March 07, 2017 09:30 AM

From the New York website: A Japanese fund reportedly in talks to invest up to $4 billion in WeWork is heavily backed by sovereign wealth from Saudi Arabia and other Middle Eastern countries, according to a new report.

The Saudi government invested $45 billion in SoftBank’s $100 billion Vision Fund, and government-tied entities from Abu Dhabi and Qatar are also in talks to invest, the New York Times reported. 

SoftBank is in talks to invest $2 billion in the national co-working company WeWork, along with potential further investment rounds that could bring the total commitment to almost $4 billion. The money would reportedly most likely come from SoftBank’s Vision Fund, which specializes in tech investments.

The Times reported that Abu Dhabi’s Mubadala Development, which owns a stake in the Park Lane Hotel, is mulling a $15 billion investment in the fund.  [NYT]Konrad Putzier


Related Articles

arrow_forward_ios
Aerial photo of the Pacific Design Center (Credit: felixmizioznikov/iStock)

Here’s what WeWork and other tenants pay at 1.4M sf Pacific Design Center

Here’s what WeWork and other tenants pay at 1.4M sf Pacific Design Center
Adam Neumann and the home (Credit: Jackal Pan/Visual China Group via Getty Images and Zillow)

Adam Neumann listing Bay Area “Guitar House” for $27.5M

Adam Neumann listing Bay Area “Guitar House” for $27.5M
Onni Group President Rossano DeCotiis, WeWork CEO Sandeep Mathrani, and Wilshire Courtyard

Onni Group defaults on $400M Wilshire Courtyard loan after WeWork lease amendment

Onni Group defaults on $400M Wilshire Courtyard loan after WeWork lease amendment
Los Angeles skyline (Credit: iStock)

LA office leasing drops in Q4 amid WeWork, tech sector pullback

LA office leasing drops in Q4 amid WeWork, tech sector pullback
CBRE CEO Robert E. Sulentic, and Keller Williams Founder Gary Williams with the Lantana property

Keller cries foul: Brokerage sues CBRE over WeWork lease deal

Keller cries foul: Brokerage sues CBRE over WeWork lease deal
1200 W. 7th Street and 5750 Wilshire Boulevard (Credit: Google Maps)

Here are LA’s biggest office leases of 2019

Here are LA’s biggest office leases of 2019
From left: Hiten Samtani, Bridgid Coulter of Blackbird, Kat Lau from Industrious and Jim Doorne of IWG

What’s next for the co-working business?

What’s next for the co-working business?
Hudson Pacific Properties CEO Victor Coleman and the Westside Pavilion (Credit: Google Maps)

Hudson Pacific wants full control of Google-leased One Westside; not sweating WeWork

Hudson Pacific wants full control of Google-leased One Westside; not sweating WeWork
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...