Bookmark & Share
CapitaLand president and group CEO Lee Chee Koon noted that CAP I will allow CapitaLand to make full asset management and investment decisions on behalf of its capital partners.
CapitaLand has raised US$391.3 million (S$530.5 million) during the first closing of its maiden discretionary equity fund, CapitaLand Asia Partners I (CAP I).
CAP I will invest in transitional and value-add office buildings in key gateway Asian cities such as Singapore, Guangzhou, Shenzhen, Tokyo, Osaka, Beijing and Shanghai.
With fund raising started in July 2018, CapitaLand received capital commitments from a diverse set of institutional investors including financial institutions, insurance companies and pension funds from Europe and Asia.
CAP I comes on the heels of the first closing of CapitaLand’s maiden discretionary real estate debt fund – CREDO I China – in February 2019.
CapitaLand president and group CEO Lee Chee Koon noted that CAP I will allow CapitaLand to make full asset management and investment decisions on behalf of its capital partners.
He also maintains a positive outlook on the funds, believing that “the expansion from our traditional club funds to commingled fund provides CapitaLand with more diverse capital partners, and the speed of CAP I’s first closing demonstrates investors’ confidence in CapitaLand’s ability to deliver strong returns for their investments.”
Meanwhile, CapitaLand Investment Management CEO James Lim revealed that CAP I has a “ready pipeline of investment opportunities for capital deployment and we expect to deploy capital in the coming months”.
“We look forward to creating value through sound asset management strategies and delivering robust and attractive risk-adjusted returns for our investors. We are now in advanced discussion with several groups and expect subsequent closings for the fund.”
Fiona Ho, Digital Content Manager at PropertyGuru, edited this story. To contact her about this or other stories, email fiona@propertyguru.com.sg
Related Articles:
CapitaLand joint venture buys Collective Works