What Cindat Capital Management does

Cindat Capital Management Limited is a Beijing-headquartered, Cayman Islands-incorporated private equity investment platform founded in 2013 to channel Chinese institutional and private capital into overseas real estate assets. As of June 30, 2021, the firm manages $2.5 billion of AUM representing $8.6 billion of asset value across 19 portfolio investments spanning the United States, the United Kingdom, and Asia-Pacific. Cindat operates three core strategies: Global Real Estate and Special Situations (residential, hospitality, multifamily assets plus refinancing/restructuring opportunities), Global Healthcare and Senior Living (triple-net-leased senior care facilities), and China Distressed and Special Situations (NPL portfolios and distressed opportunities in China). The firm pursues deals across the capital stack including direct lending, securitized debt, preferred equity, and common equity.

Cindat generates revenue through asset management fees and carried interest on institutional capital deployed across its strategies. Its customer base comprises institutional investors — pension funds, sovereign wealth funds, insurance companies, family offices — alongside strategic capital partners such as China Cinda (中国信达, a strategic shareholder and distressed asset sourcing partner), Union Life Insurance, Welltower, Omega Healthcare Investors, Oaktree Capital Management, and Aprirose. Distribution is conducted entirely through direct institutional relationships, co-investment JV structures with healthcare REITs, and special situations partnerships; no retail channels are used. Notable transactions include the $930 million Welltower US healthcare JV (2016), the £525 million QHotels UK hospitality acquisition (2017), the $571 million Hersha Manhattan hotels deal (2017), the £135 million 30 South Colonnade acquisition from HNA (2019), and the $1.5 billion UK care home portfolio acquired from Healthpeak in partnership with Omega Healthcare (2018-2019).

The firm runs a deliberately lean operating model — 1-10 disclosed employees with senior leadership drawn from Merrill Lynch, Goldman Sachs, China Investment Corporation, CBRE, JLL, HCP, and other tier-one institutions — relying on co-investment partners and third-party asset managers (e.g., Quadrant Estates for UK properties) for operational execution. No proprietary technology platform is disclosed; deal sourcing and underwriting are relationship-driven. The platform maintains a corporate website with English and Chinese versions and pursues press relations through Business Wire, Bloomberg, and industry publications for deal visibility.

Name

Cindat Capital Management

Legal name

Cindat Capital Management Limited

Website

https://cindat.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

1–10 employees

Short description

Cindat Capital Management is a Beijing-based, Cayman-incorporated private equity investment platform founded in 2013 that deploys Chinese institutional capital into overseas real estate across the US, UK, and Asia-Pacific, managing $2.5B AUM across healthcare, hospitality, and distressed strategies.

Ownership category

akta.pro rank

Product category

Real Estate Private Equity Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Miscellaneous Financial Investment Activities (523999)

SIC

Investors, Nec (6799), Investment Advice (6282), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Real Estate Portfolio & Fund Management (Institutional/REIT/PE) (BPAJAMAJ)

akta.pro secondary industries

Real Estate Investment Advisory (Acquisitions/Dispositions, Capital Allocation) (BPAJANAA), Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE), Commercial Real Estate Asset Management (BPAJAMAB), Real Estate Private Credit (CRE Debt) (FSANADAG), Real Estate Capital Markets Brokerage (Debt & Equity Placement) (FSAEAJAK)

Keywords

• Global real estate investment
• Private equity management
• Healthcare real estate
• Distressed asset investing
• Institutional asset management

Headquarters

HQ city

Beijing

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Asset Management Fees: Cindat generates revenue through management fees and carried interest from managing assets on behalf of institutional investors. As of June 30, 2021, Cindat manages $2.5 billion of AUM representing $8.6 billion of asset value.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Cindat Capital Management is a Beijing-based international private equity investment platform founded in 2013 that manages capital on behalf of institutional investors across global real estate assets. The firm invests across the capital stack—including direct lending, securitized debt, preferred equity, and common equity—in three core strategies: Global Real Estate and Special Situations, Global Healthcare and Senior Living, and China Distressed and Special Situations. As of June 30, 2021, Cindat manages $2.5 billion of AUM representing $8.6 billion of asset value across 19 portfolio investments in the United States, the United Kingdom, and Asia-Pacific.

Product overview

Cindat Capital Management is a private equity investment platform founded in 2013 that primarily invests in global real estate assets on behalf of institutional investors. The firm operates three core investment products: Global Real Estate and Special Situations (targeting residential, hospitality, multifamily assets and special situations), Global Healthcare and Senior Living (healthcare and senior living real estate), and China Distressed and Special Situations (non-performing loans and distressed opportunities in China). The platform manages $2.5 billion in AUM representing $8.6 billion in asset value across 19 portfolio investments in the US, UK, and Asia-Pacific as of June 30, 2021. The portfolio includes specific named properties such as Q Hotels (UK hotel portfolio), 30 South Colonnade in London, Beekman Hotel in New York, and various senior care facility portfolios in the US and UK.

Differentiator

Problem solved

Functional benefit

Products and services

• Global Real Estate and Special Situations Core investment strategy targeting high-quality, well-located properties at attractive discounts, with focus on residential, hospitality and multifamily assets in global gateway cities. Includes special situations for refinancing/restructuring and global credit opportunities. Designed for institutional investors seeking global real estate exposure across the capital stack.
• Global Healthcare and Senior Living Investment platform targeting high-quality healthcare and senior living real estate assets and operating platforms globally, focusing on tenant diversification to minimize risk and maximize value appreciation. For institutional investors seeking exposure to senior housing, post-acute care, and nursing home real estate.
• China Distressed and Special Situations Investment strategy focusing on non-performing loan portfolio investments and single distressed opportunities primarily backed by real estate assets in developed areas across China. Designed for international investors seeking access to China's distressed debt market and opportunistic situations.
• Q Hotels Portfolio Collection of 26 high-end hotels in the UK acquired at a discount to replacement cost in 2017 as part of the hospitality strategy. Includes focus on non-core asset disposition, rebranding and operating performance enhancement.
• 30 South Colonnade (Thomson Reuters Building) Office building at Canary Wharf, London, acquired in 2019 in partnership with Oaktree Capital Management from HNA Group. Comprises 306,000 SF of high-quality office, retail and ancillary space. Represents value-add opportunity through renovation and repositioning.
• 39-Facility Senior Care Portfolio (USA) Joint-venture with Welltower Inc. (NYSE: WELL) consisting of 39 existing high-quality senior care facilities located in 11 states along US coastal regions, triple-net master-leased to NYSE-listed operators Brookdale Senior Living and Genesis Healthcare.
• 67-Facility Senior Care Portfolio (UK) Joint venture with Omega Healthcare Investors, Inc. (NYSE: OHI) consisting of 67 high-quality care homes located throughout the UK with over 3,500 beds, triple-net master-leased to two leading operators HC-One and Maria Mallaband Care Group.

Quantifiable outcome

• $930 million transaction for US healthcare portfolio with Welltower
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eleven partnerships are on record, tiered flagship, minor and supporting.

• Welltower Inc.flagshipStrategic or Co-development PartnerCindat and Union Life formed a joint venture with Welltower to invest $930 million in seniors housing and long-term/post-acute care real estate assets. The portfolio includes 11 seniors housing properties master leased to Brookdale Senior Living and 28 long-term/post-acute care facilities master leased to Genesis Healthcare. Cindat and Union Life own 75% with Welltower retaining 25%.
• Omega Healthcare Investors Inc.flagshipStrategic or Co-development PartnerCindat partnered with Omega Healthcare Investors (NYSE: OHI) to complete the acquisition of the remaining 49% stake in a 67-property UK care home portfolio from Healthpeak. Omega is a large-cap US healthcare REIT and leader in healthcare real estate investment. The partnership positions Cindat to be the leading capital provider to the UK senior care sector.
• Healthpeak Properties Inc.minorOthersHealthpeak Properties (formerly HCP, Inc.), a US-based healthcare REIT, sold its UK care home portfolio of 67 properties to Cindat and Omega Healthcare. The portfolio was primarily purpose-built with more than 3,500 beds located throughout England, Scotland and Northern Ireland.
• HNA GroupminorOthersHNA Group sold 30 South Colonnade (Thomson Reuters Building) to Cindat and Oaktree. The financially challenged Chinese conglomerate had paid £215 million for the asset in 2015 but sold it for approximately £135 million (~$176 million), representing about 60% discount to original purchase price.
• Quadrant EstatessupportingImplementation/ SI/ Consulting PartnerLondon-based Quadrant Estates was brought on as the asset manager for the 30 South Colonnade acquisition by Cindat and Oaktree. Oaktree was the driving force behind bringing Quadrant on board for asset management duties.
• Hersha Hospitality TrustminorOthersCindat previously agreed to buy 70% of seven Manhattan hotels from Hersha Hospitality Trust for $571 million in 2016. This was a hotel investment joint venture where Oaktree provided $50 million in mezzanine financing.
• Brookdale Senior Living Inc.supportingOthersBrookdale Senior Living (NYSE:BKD) is the operator of 11 senior housing properties in the Welltower portfolio that Cindat acquired a stake in. Brookdale provides independent living and assisted living options for the elderly.
• Genesis Healthcare Inc.supportingOthersGenesis Healthcare (NYSE:GEN) operates 28 long-term/post-acute care facilities in the Welltower portfolio that Cindat acquired. Genesis provides skilled nursing for people with chronic conditions and post-acute care for patients recovering from illnesses and medical procedures.
• HC-OnesupportingOthersHC-One is a leading national care home operator in the UK that leases properties under long-term triple-net leases from the UK care home portfolio acquired by Cindat and Omega Healthcare.
• Maria Mallaband Care GroupsupportingOthersMaria Mallaband Care Group is one of the two leading operators (along with HC-One) that lease the UK care home portfolio acquired by Cindat and Omega Healthcare. Properties are under long-term leases featuring annual RPI-linked rent escalators.
• AprirosesupportingStrategic or Co-development PartnerIn 2017, Cindat reportedly formed a 50-50 joint venture with London's Aprirose in the property investment firm's £525 million acquisition of UK hospitality chain Qhotels from Bain Capital Credit and Canyon Partners.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• China Cinda Asset Management: One of China's four major AMCs and Cindat's strategic shareholder and primary deal-flow source for distressed assets; comparable as a Chinese-distressed specialist with growing cross-border real estate capability.
• Hopu Investments: Beijing-based alternative asset manager founded by veterans of China Investment Corporation; deploys Chinese institutional capital into global real estate, PE, and infrastructure — directly analogous cross-border mandate.
• CITIC Capital: Hong Kong/Asia-based alternatives platform with a real estate strategy investing Chinese-linked capital into global opportunities; comparable as a Chinese-rooted sponsor with cross-border real estate deployment.
• China Orient Asset Management: Another of China's four major AMCs with a distressed-asset franchise and growing overseas investment capability; similar AMC-rooted DNA and NPL workout specialization.
• Ping An Real Estate: Ping An Group's dedicated real estate investment arm; deploys Chinese insurance capital into overseas property — directly comparable as a Chinese institutional capital pool investing in global real estate.
• Oaktree Capital Management: Global distressed and special situations real estate investor that has co-invested with Cindat (Reuters Building, Hersha JV); directly comparable special-situations skill set and JV behavior with Cindat.

Broad incumbents

• Brookfield Asset Management: Global alternative asset manager with one of the largest real estate platforms including senior living/healthcare; comparable as a large institutional capital source for healthcare real estate JVs of the type Cindat executes with Welltower and Omega.
• Starwood Capital Group: Global real estate-focused sponsor with experience in hospitality, senior housing, and special situations; comparable investment strategies across asset classes Cindat targets.
• Apollo Global Management: Large alternatives manager with deep real estate and hybrid value strategies; comparable at the strategy level for Cindat's capital-stack investment and special situations approach.

Emerging players

• Angelo Gordon (TPG Angelo Gordon): Multi-strategy alternatives platform with strong real estate debt and special situations franchises; comparable to the value-add and debt-oriented side of Cindat's strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/cindat-capital-management-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cindat Capital Management