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ARA Asset Management, which manages listed property trusts and private equity funds, is looking to deploy some of its dry powder in development projects in Australia and raise its firepower in South Korea by creating more fund products.
This marks further diversification from the saturated Chinese market, although China remains a key market for the pan-Asian fund manager, backed by Asia's richest man, Li Ka-shing.
NOTE: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Anshuman Daga; Editing by Sunil Nair)