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
