CapitaLand launches new India fund, expects $700 million addition to total FUM
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Its new CapitaLand India Growth Fund 2 would have a target fund size of $525 million.
PHOTO: CAPITALAND
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SINGAPORE - CapitaLand Investment (CLI) said on Thursday it had launched a new fund for business park development in India that is expected to add about $700 million to its funds under management (FUM).
The real estate investment manager said its new CapitaLand India Growth Fund 2 would have a target fund size of $525 million and invest in Grade A business parks in prime locations across gateway cities in India.
Additionally, the company said it had secured $263 million in funding from a global institution for a 50 per cent stake in the fund’s first closing.
CapitaLand’s total FUM stood at $89 billion as at March 31, with a target to reach $100 billion by fiscal year 2024. REUTERS
