CLI puts up first onshore RMB fund in China, acquires Shanghai office

It will hold a 12% stake in the RMB700m (S$144m) fund.

CapitaLand Investment (CLI) revealed that it established its first onshore RMB fund in China and acquired a quality office building in Shanghai.

It will hold a 12% stake in the RMB700m fund, the firm said in its announcement.

As for the office, CLI said the purchase is seen to be completed next month.

CLI’s fund management business has since attracted nine private funds since 2021. It raised over $1.9b of third-party capital to “invest in various asset classes globally including new economy, office and student accommodation sectors.”

Currently, CLI has 260 investment and asset management professionals worldwide.

$1 = RMB4.84

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