TPG, Savills pick up bankrupt Japanese property developer Joint Corp


US buyout giant TPG Capital has agreed a joint deal with property consultancy Savills for bankrupt Japanese property developer Joint Corp.

The apartment builder filed for a $1.6bn bankruptcy in 2009 and is still under a court-led rehabilitation process.

Joint Corp suffered alongside strings of other property developers following the financial crisis.

TPG is believed to be mulling a move into Myanmar as interest cranks up in the formerly closed country, with co-founder David Bonderman making a visit earlier this month.

AltAssets revealed that Leopard founder and CEO Douglas Clayton was already planning a Burmese investment fund this year alongside new vehicles for Bangladesh, Haiti, Cambodia and Laos.

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