CapitaLand Investment (CLI) has established its first onshore master fund in China, CLI RMB Master Fund, with a total equity commitment of RMB 5 billion ($713 million).
CLI has secured a major domestic insurance company to take up a majority stake in the master fund in line with its asset-light strategy to grow its funds under management (FUM). The master fund is expected to contribute RMB 20 billion ($2.86 billion) to CLI’s FUM when fully deployed.
The master fund will invest in a series of subfunds that will seek to acquire high-quality, income-producing assets with long-term growth potential. The subfunds will invest in business parks, retail, rental housing and serviced residences across tier one and top tier two cities. Future subfunds may also invest in special opportunities in other sectors such as data centers, logistics parks and offices.
“Leveraging our over 30 years of experience in China and deep on-the-ground expertise, our first master fund in
