CapitaLand Investment to step up Australia presence with A$200 million acquisition

CapitaLand Investment Limited (CLI) is further stepping up its presence in Australia with the A$200 million ($173 million) acquisition of the property and corporate credit investment management business of Wingate Group Holdings, plus an earn-out. 

Upon completion of this acquisition, the A$2.5 billion in funds under management now under Wingate will help increase CLI's total FUM in Australia by 30% to $8.3 billion, or around 7% of its total of $115 billion.