The We Company, parent of workspace provider WeWork, said on Wednesday it has cr...
NEW YORK - The We Company, parent of workspace provider WeWork, said on Wednesday it has created a $2.9 billion real estate investment platform with funding from one of Canada’s largest pension funds, building on ties with private equity firm the Rhone Group.
WeWork, founded in 2010, is now New York’s largest tenant as it leases space from landlords to clients ranging from startups to Fortune 500 companies on a short-term basis. “We don’t think this is a fad,” Pearce said in an interview. “Every single aspect of the business is going to change.” ARK will be chaired by Steven Langman, a Rhone co-founder and a board director of The We Company, which will own the majority of the newly formed venture with $2.9 billion in equity.
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