Singapore’s CapitaLand sets up $1.5 billion private equity fund for China

Singaporean real-estate developer CapitaLand said it has fully closed a $1.5 billion private equity fund to invest in mixed-use developments in its core China market.(Business Standard)

CapitaLand will have a 41.7 per cent stake in Raffles City China Investment Partners III, while the rest will be held by major investors from Asia, North America, and the Middle East, including new and existing investors. “RCCIP III brings us closer towards our goal of raising funds with a total AUM (assets under management) of up to S$10 billion by 2020,” CapitaLand’s chief financial officer, Arthur Lang, said in a statement. The fund, which is the largest private capital raise that CapitaLand has originated, will have a life of eight years.

CapitaLand is one of Asia’s largest real estate companies headquartered and listed in Singapore. The Compnay leverages their significant asset base, design and development capabilities, active capital management strategies, and extensive market network and operational capabilities to develop high-quality real estate products and services. Their diversified global real estate portfolio includes integrated developments, shopping malls, serviced residences, offices and homes. Their two core markets are Singapore and China, while Indonesia, Malaysia and Vietnam have been identified as new growth markets. CapitaLand also has one of the largest real estate fund management businesses with assets located in Asia.