CapitaLand Investment brings two business park funds to market in China

CapitaLand Investment has launched two new funds to invest in business park opportunities in China.

The funds are China Business Park Core RMB Fund I (CBPCF I), a RMB 380 million ($52 million) fund established with four new domestic investors, and China Business Park Core RMB Fund I (CBPCF II), a RMB 3.6 billion ($494 million) fund established with six new domestic investors. CLI will hold a 10 percent and 20 percent stake in the funds, respectively.

CLI already has raised RMB 3.2 billion ($439 million) in third-party capital for the two funds.

CBPCF I has acquired Ascendas i-Link, a business park in Zhangjiang Hi-Tech Park in Pudong New District, Shanghai. Zhangjiang Hi-Tech Park, one of China’s first state-level high-tech zones approved by the state council, houses many top Chinese technology enterprises and Fortune 500 companies. CBPCF II will invest in a LEED Gold-certified business park in China and expects to complete the acquisition by end-2022. Both as