CapitaLand Investment Limited (CLI) has established its new lodging private fund, CapitaLand Ascott Residence Asia Fund II (CLARA II).
With a target equity size of $600 million, CLARA II will invest in serviced residences and coliving properties in gateway cities in key developed Asia Pacific markets.
CLARA II is CLI’s second private fund that focuses on serviced residence and coliving assets. It is the follow-on fund to the $600 million Ascott Serviced Residence Global Fund (ASRGF). CLI will hold a 20 percent sponsor stake in CLARA II in line with its asset-light strategy to grow its funds under management while keeping strong alignment with its investors and partners. The remaining 80 percent will be held by third-party institutional investors. CLARA II leverages the global operating expertise of The Ascott Limited (Ascott), a lodging business unit wholly owned by CLI, to manage its quality portfolio of resilient and green-certified lodging assets, further creating
