[ad_1]
Singapore's largest real estate developer, CapitaLand Limited, raised $ 391 million at the first closing of its first-ever discretionary real estate investment fund – CapitaLand Asia Partners I (CAPI), a statement said Monday.
CapitaLand, which started fundraising last July, secured commitments from institutional investors, including pension funds, insurance companies and Asian and European financial institutions.
CAP I will invest in CapitaLand's extensive network and extensive badet management expertise in value-added and transition office buildings located in major Asian cities, including Singapore, Beijing, Guangzhou, Shanghai, Shenzhen, Osaka and Tokyo.
"CAP I is CapitaLand's first discretionary private investment fund that allows us to make all investment and badet management decisions on behalf of our financial partners. The expansion of our traditional mixed-capital club funds provides CapitaLand with more diversified financial partners, and the speed of the first closing of CAP I shows investors' confidence in CapitaLand's ability to generate high returns for their investments. The continued strong demand for quality commercial properties in major Asian cities, combined with insufficient supply, makes the renewal of aging business badets a compelling investment strategy in these markets, "said Lee Chee Koon, President and Chief Executive Officer of CapitaLand.
He added that with the addition of CAP I and recent measures shareholder approval of CapitaLand's acquisition of Ascendas-Singbridge, the real estate developer is about to become one of the world's 10 largest real estate investment managers, with an expanded fund management platform comprising 24 private funds and eight listed real estate investment trusts (REITs).
"CAP I has a portfolio of investment opportunities for capital deployment and we plan to roll it out in the coming months. We look forward to creating value through strong badet management strategies and generating robust, attractive, risk-adjusted returns for our investors. We are currently in in-depth discussions with several groups and we expect further closings for the fund, "said James Lim, Managing Director of CapitaLand Investment Management.
CAP I comes on the heels of the $ 556 million first closing CREDO I China, CapitaLand's first discretionary real estate debt fund focused on China. The fund aims to raise $ 750 million to invest in USD-denominated USD subordinated instruments in real estate located in China's first and second largest cities.
Read also:
CapitaLand completes first closing of China's first $ 556 million real estate debt fund
CapitaLand and Ascendas-Singbridge Sign $ 8 Billion Contract to Create Asia's Largest Real Estate Group
[ad_2]
Source link
