Tuesday June 24, 01:57 AM
Singapore's CapitaLand, CITIC Trust private equity fund raise 500 mln yuan
SINGAPORE (Thomson Financial) - Southeast Asia's largest property developer, CapitaLand Limited (C31.SI - news) , said late Monday it has partnered
with China's CITIC Trust, a unit of state-owned conglomerate CITIC Group, to set up its first
yuan-denominated real estate private equity fund that will invest in business parks in the mainland.
The private equity fund, CITIC CapitaLand Business Park Fund, is CapitaLand's seventh in
China. The fund was successfully closed on June 6 after raising 500 million yuan ($72.5 million), CapitaLand said.
'The fund allows Chinese domestic investors to participate in the incubation of properties
suitable for real estate investment trusts,' the company said.
IBM China Centre, CapitaLand's business park in Beijing, will be the first recipient of the
investment.
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