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Foshan Logistics Development, China. Photo from CapitaLand Investment.

CapitaLand Investment launches opportunistic partners programme in China

A total of $1.1b equity has been committed to the programme.

CapitaLand Investment (CLI) has established the CapitaLand China Opportunistic Partners Programme (CCOP Programme) with a $1.1b equity.

In a statement, CLI said it has secured $892m from top-tier global institutional investors holding an 80% stake in the programme, with CLI holding the remaining 20%.

“The establishment of CapitaLand China Opportunistic Partners Programme following our three onshore RMB funds and China Data Centre Partners (CDCP) fund demonstrates CLI’s strong ability to raise both onshore and offshore funds to accelerate our growth in China,” said CLI China CEO Puah Tze Shyang.

READ MORE: CapitaLand Investment jumps 19 spots in world’s most sustainable corporations list

Of the $1.1 equity, $291m is from a single-asset fund, and $824m is in a programmatic joint venture (JV).

CLI said the single-asset fund acquired Baijing Suning Life Plaza for $553m and it will invest to upgrade the retail space into a Grade A office that will push higher rent.

Meanwhile, the programmatic JV will invest in special situation opportunities in China in the commercial, office, retail, logistics, and industrial sectors. Its first transaction involved the acquisition of a $157m high-quality logistics development in Foshan, Guangdong.

 

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