The group has raised over 70% of the capital or US$556 million for the first closing, and expects subsequent commitments from major institutional investors later this year.
SINGAPORE (Feb 27): CapitaLand has announced the first closing of its first discretionary real estate debt fund, which the group will hold a 10% stake in.
Dubbed “CREDO | China”, the fund has a target capital raise of US$750 million ($1 billion), and will invest in offshore USD-denominated subordinated instruments for real estate in China’s first- and second-tier cities.
