Blackstone Inc. (NYSE:BX) is believed to be exploring a deal surrounding AMP Limited (ASX:AMP) that could wind up with it buying at least the real estate assets held within the funds of its AMP Capital Investors Limited (Collimate Capital division). The talk in the market is that the US buyout fund is in discussions with the group about an acquisition of not just the management rights, but a proposal that could be put to investors about buying the assets that Collimate manages as well. Australian real estate groups are also said to be re-engaging with AMP about a deal around Collimate Capital's real estate funds.

Sources believe this includes Charter Hall Group (ASX:CHC) (although sources close to the Australian group that reports results on February 25, 2022 was playing this down), and potentially Mirvac Group (ASX:MGR), which had been in an earlier contest to manage its prized office fund. The parties have turned up as suitors after DataRoom earlier revealed that CapitaLand Limited was carrying out work for a possible acquisition of Collimate Capital, as was EIG Global Energy Partners. EIG is working with JPMorgan to bid for at least part of the business, while CapitaLand is believed to have some existing association with Collimate Capital, potentially as a fund investor.