The closed-end fund aims to invest in business parks across China and has secured a major institutional investor as its anchor.
CapitaLand Investment Limited has announced the initial close of its sixth onshore renminbi fund, the China Business Park RMB Fund III , securing $222 million in equity. This development is expected to increase CLI’s funds under management by $370 million once the fund is fully deployed.
To kick-start the fund’s operations, CLI will recapitalize its asset, Ascendas iHub Suzhou, by transferring it as a seed asset to CBPF III for $259 million . CLI will continue to manage the property, contributing to its recurring income. The facility holds a Leadership in Energy and Environmental Design Gold certification, indicating its adherence to sustainable building practices.
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