Fundraising - OCTOBER 25, 2016

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CapitaLand raises $1.5b for third Chinese real estate fund

by Andrea Waitrovich

Singapore-based CapitaLand Ltd. has raised $1.5 billion for its third private investment vehicle, Raffles City China Investment Partners III, marking the largest private capital raise CapitaLand has originated.

RCCIP III will invest in prime integrated developments in gateway cities in China.

For the third fund, CapitaLand will subscribe a 41.7 percent stake in RCCIP III. The Canada Pension Plan Investment Board is among the fund’s investors, investing $375 million in RCCIP III. CPPIB’s investment represents a 25 percent stake in the investment vehicle.

“Investing in CapitaLand’s new China investment vehicle gives CPPIB the opportunity to expand on our long-term strategy of investing in high-quality commercial real estate in China to deliver solid risk-adjusted returns over the long term,” said Jimmy Phua, managing director, head of real estate investments – Asia, CPPIB, in a statement.

China continues to b

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