CapitaLand Investment secures initial $222m for China business park fund

CBPF III is expected to boost CLI’s funds under management by $370M when fully deployed.

CapitaLand Investment Limited (CLI) has announced the initial close of its sixth onshore renminbi (RMB) fund, China Business Park RMB Fund III (CBPF III), with $222m (RMB1.2b) in equity.

The fund will focus on investing in business parks across China.

The closed-end fund has secured a major institutional investor as its anchor. When fully deployed, CBPF III is expected to increase CLI’s funds under management (FUM) by $370m (RMB2b). CLI will maintain a sponsor stake in the fund to align with investors and partners.

CLI will recapitalise Ascendas iHub Suzhou by transferring it as a seed asset to CBPF III for $259m (RMB1.4b). CLI will continue to manage the property, contributing to its recurring income.

Ascendas iHub Suzhou, located in the Dushu Lake Science & Education Innovation District of Suzhou Industrial Park, has been operational since 2011.

The property, which includes four mid-rise and 11 low-rise buildings totaling 170,800 square meters, is well-equipped with amenities and near Suzhou Metro Line 2. It holds a Leadership in Energy and Environmental Design (LEED) Gold certification.

Also Read

COTD: APAC deal volume falls 6.8% amidst economic uncertainties and tensions

Securitisation seen as key for Singapore developers to enhance returns

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit