CapitaLand Investment closes second onshore sub-fund under RMB Master Fund

It is expected to add $271m (RMB1.48b) to CLI's funds.

CapitaLand Investment Limited (CLI) closed its second onshore subfund China Retail RMB Fund I (CRF I), under its RMB Master Fund, to bring CLI’s total fund size to $183m (RMB1b).

The CRF I is part of the CLI RMB Master Fund and is expected to add $271m (RMB1.48b) to CLI’s funds under management (FUM) when fully deployed, CLI said in a bourse filing.

CLI will recapitalise CapitaMall Xinduxin through its sale as the seed asset to CRF I, it added.

Located in Qingdao’s Shibei District, CapitaMall Xinduxin is a prime retail asset with a gross floor area of 141,000 square metres and a committed occupancy of approximately 99.6%.

The shopping mall is connected to Qingdao’s subway line 3.

Following the second fund, CLI has raised nearly $10b (RMB55b) of domestic capital across nine onshore funds since 2021, it said.

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CapitaLand Investment Limited

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