CapitaLand unveils biggest investment fund for China projects
It subscribes 41.7% interest in RCCIP III for $2b.
CapitaLand announced today its successful establishment of its third integrated development private investment vehicle in China – Raffles City China Investment Partners III (RCCIP III).
The partnership has fully closed at US$1.5b (about S$2b), making it the largest private capital raise CapitaLand has originated.
RCCIP III, with a life of eight years, will invest in prime integrated developments in gateway cities in China.
CapitaLand will subscribe 41.7% sponsor stake in RCCIP III while the remaining interests will be held by major investors from Asia, North America, and the Middle East, including new and existing investors.
RCCIP III will be managed by CapitaLand Fund Management Pte. Ltd., an indirect wholly owned subsidiary of CapitaLand.
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