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Warburg Pincus-backed Ara Asset becomes Cache Logistics' largest unit holder

Cache Logistics Trust said Ara Asset Management Ltd. is now its largest unit holder, with ownership of approximately 98.77 million units, or 9.21%, of the Singapore real estate investment trust's units on issue as of Aug. 30.

Ara Asset, which lists the Tecity Group of Cos., Warburg Pincus & Co., and Aviation Industry Corp. Of China as among its shareholders, accumulated its existing shareholding in the trust after boosting its stake in Cache Logistics on Aug. 24 to 5.12% through the purchase of an additional 43.66 million units.