Reetu Gupta appointed chairwoman of The Gupta Group
Reetu Gupta, a two-time recipient of Canada's top 100 most powerful women award, has been named chairwoman and ambassadress of The Gupta Group, taking over the running of the privately owned family office from her father, Dr. Steve Gupta.
Having worked closely with her father over two decades, Reetu has held a range of positions within The Gupta Group, including most recently as chief executive officer. She will be stepping up as chairwoman immediately, while Dr. Gupta will assume the position of executive chairman.
In her new role, Reetu will lead strategic planning and philanthropic initiatives across the company, which holds more than $1 billion in real estate development, hospitality, venture capital and mining assets.
“This organisational shift is an incredible milestone in our company's history as I officially pass the reins to Reetu who will drive the long-term vision for the company and our growing portfolios,” said Dr. Gupta, who famously moved from his native India to Toronto in 1971 with a BSc and $108 dollars in his pocket. “Reetu has a proven track record as an accomplished leader. I am proud to see her transition into this role, and I have full confidence in the excellence she will deliver for years to come.”
“As a female business leader, philanthropist, and advocate for all women, I am proud to assume the position of chairwoman of The Gupta Group,” said Reetu. “I look forward to finding new growth opportunities for both our company and the Canadian economy, all while continuing to support important charitable initiatives globally.
“I also hope to use this new platform to inspire other women and instil change in the business community. As a collective, we can support women in the workplace by approaching every day with the understanding that there are no glass ceilings.”
In her new role, Reetu will guide acquisitions, partner relations and overall strategy for The Gupta Group Developments, Rogue Insight Capital, and Easton's Group of Hotels, which currently has 18 hotels in its portfolio, with an additional seven hotels, two high-rise residentials and one commercial property under development.
Todd Boehly syndicate agrees £4.25 billion deal to buy Chelsea FC
The consortium led by billionaire US investor Todd Boehly has struck a £4.25 billion deal to buy Chelsea FC – the highest price ever paid for a sports club.
The Los Angeles Dodgers co-owner and his partners – including private equity firm Clearlake Capital, US investor Mark Walter and Swiss businessman Hansjorg Wyss – fought off stiff competition from final-round syndicates led by former British Airways and Liverpool FC chairman Sir Martin Broughton and Boston Celtics co-owner Steve Pagliuca.
“Of the total investment being made, £2.5 billion will be applied to purchase the shares in the club, and such proceeds will be deposited into a frozen UK bank account with the intention to donate 100% to charitable causes, as confirmed by [former Chelsea owner] Roman Abramovich,” said Chelsea in a statement. “In addition, the proposed new owners will commit £1.75 billion in further investment for the benefit of the club.”
The sale, which requires official approval by the Premier League and UK government, is expected to be completed by late May.
Brazilian billionaire Alberto Safra buys Sao Paulo real estate firm
Alberto Safra, one of four children of the late Lebanese-Brazilian billionaire banker Joseph Safra, has expanded his ASA Investments holdings with the purchase of Sao Paulo-based CORE Real Estate.
Alberto created ASA Investments after leaving his family's bank in 2019 and has subsequently launched several products, including a hedge fund and multi-market quantitative, equity and fixed-income strategies. Alberto’s Sao Paulo-based asset-management firm also has offices in Rio de Janeiro and New York.
According to a statement, the acquisition of CORE Real Estate, "Reinforces our goal of becoming a multi-strategy asset manager.”
CORE, which currently owns four corporate buildings across Brazil, was set up in 2020 by Martim Fass, the former head of real estate investments for Banco Safra SA. Other partners in the firm include former Safra executives André Mori, Guilherme Fava and Lago Alvarenga.
Until October 2019, Alberto was responsible for corporate banking at Banco Safra. He left his position following a dispute with his brother David over the bank’s expansion into retail banking.
In 2021, he challenged three new wills his father executed in 2019. Joseph Safra passed away in December 2020 leaving his wife and children approximately $7.3 billion each, according to the Forbes list of The World's Billionaires.