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Fundraising - JANUARY 15, 2013

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CITIC Capital raises $475 million for fourth fund

by Andrea Waitrovich

CITIC Capital China Retail Properties Investment Fund, a value-added fund managed by CITIC Capital Real Estate Group, the alternative investment manager backed by Chinese sovereign wealth fund giant China Investment Corp., has raised approximately $475 million, according to a filing with the Securities and Exchange Commission.  The fund was launched in 2011 with a $600 million fundraising goal; however, the filing indicates the total offering has increased to $800 million. A final close date was not disclosed.

CITIC announced in November 2011 that the fund had completed its first closing on $225 million, attracting institutional investors from the United States, Europe and Asia. The Townsend Group is the cornerstone investor in the fund.

CITIC Capital China Retail Properties Investment Fund will target retail property and mixed-use development with a substantia

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