Cap­i­taLand sets up $1.5 bil­lion fund

China Daily (USA) - - BUSINESS -

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. Cap­i­taLand will have a 41.7 per­cent 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 to our goal of rais­ing funds with a to­tal AUM (as­sets un­der man­age­ment) of up to S$10 bil­lion ($7.18 bil­lion) by 2020,” Cap­i­taLand’s chief fi­nan­cial of­fi­cer, Arthur Lang, said in a state­ment on Tues­day.

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