KaiLong holds first close of European fund
KaiLong Real Estate Investment has held a first close of £24 million ($34 million) for its Outbound Investment Fund II, according to a statement.
The fund, with capital raised from Chinese high-net-worth individuals, family offices, trust companies and institutions, has acquired three office properties in London totaling 103,420 square feet.
“It is our first step toward setting up a global presence as we will be actively seeking other investment opportunities in offshore markets,” says Hei Ming Cheng, founder, board director and chief executive of KaiLong.
Last year, KaiLong raised £14 million ($21 million) for Outbound Investment Fund I and acquired its first London office property. According to the statement, KaiLong currently has £100 million ($142 million) of assets under management in London.
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