Singapore-listed property firm CapitaLand Ltd. has raised US$1.5 billion for its third private property investment vehicle to back integrated development projects under its Raffles City brand in gateway cities in China, the company announced today.
The fund, named Raffles City China Investment Partners III (RCCIP III), is the largest private investment fund ever raised by CapitaLand, and pushes the firm closer toward the objective of reaching total asset-under-management of up to US$10 billion by 2020.
CapitaLand also manages a US$1.18 billion Raffles City China Fund that is invested in five Raffles City developments in China, and a US$740 million vehicle in a Raffles City project in Changning district in Shanghai.
For the third fund, Ca...
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