CapitaLand's first closing of discretionary property equity fund raises US$391.3m

Investors include institutional investors such as pension funds, insurance companies and financial institutions from Asia and Europe, the real estate group said.CAPITALAND has raised US$391.3 million for its first discretionary real estate equity fund. Investors include institutional investors such as pension funds, insurance companies and financial institutions from Asia and Europe, the real estate group said.

James Lim, CEO of CapitaLand Investment Management, said: “We are delighted with the successful first closing of CAP I and welcome several new investors to the CapitaLand’s fund management platform. CAP I has a ready pipeline of investment opportunities for capital deployment and we expect to deploy capital in the coming months."CapitaLand is in advanced discussion with several groups and expects subsequent closings for the fund, he added.

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