Investors buy 7.5% stake in Related
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Related Cos., the owner of Manhattan’s Time Warner Center and a bidder for a 26-acre development site west of Midtown, received $1.4 billion from investors including Goldman Sachs Group Inc. and the government of Abu Dhabi.
Goldman Sachs and MSD Capital, the investment vehicle of Dell Inc. Chief Executive Michael S. Dell, bought a 7.5% equity stake in closely held New York-based Related, the firm said.
Mubadala Development Co., the investment company of the government of Abu Dhabi; the Olayan Group, a Saudi Arabian investment company; and an unnamed company also agreed to buy an unspecified amount of Related’s debt.
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