Frasers Property and FCT raise stakes in PGIM Asia retail property fund for $635 mil

SINGAPORE (Mar 25): Frasers Property Limited and Frasers Centrepoint Trust (FCT) are raising their stakes in PGIM Real Estate Asia Retail Fund for $635 mil in total.

Frasers Property, which is also the sponsor of FCT, says the investments are line with the group's strategy to grow recurring income sources in one of the group’s key asset classes.