Mapletree Investments, an Asia-focused real estate company, has raised US$1.4 billion (S$1.77 billion) for its private real estate fund, Mapletree China Opportunity Fund II.

This was above the initial target of US$1 billion.

The fund is one of the largest China-focused private equity real estate funds raised to-date.

Seeded by two mixed-use development projects, the fund raiser was closed within 10 months after its marketing launch in October last year, and just two months after its first closing at the end of June this year for US$1.1 billion.

This is the second China-focused fund sponsored by Mapletree, and a follow-on investment vehicle to its US$1.2 billion Mapletree India China Fund (MIC Fund).

The MIC Fund held its final closing in 2008 and fully committed its capital to projects in mid-2012, well ahead of the April 2013 end of its investment period.

The MIC Fund has since sold two investments for a profit, which resulted in cumulative distributions to investors amounting to nearly 90 per cent of total paid-in capital to the MIC Fund.