CLI establishes China Opportunistic Partners Programme to invest in special situation opportunities

SINGAPORE - Feb. 23, 2023 - PRLog -- CapitaLand Investment Limited (CLI) has established the CapitaLand China Opportunistic Partners Programme (CCOP Programme), with a total of S$1.1 billion equity committed to invest in special situation opportunities in China.  CLI has secured S$892 million from top tier global institutional investors, which hold an 80% stake in the Programme.  CLI holds the remaining 20% stake, in line with its asset-light strategy to grow its funds under management (FUM) while keeping strong alignment with its investors and partners.

The CCOP Programme comprises a S$291 million single-asset fund and a S$824 million programmatic joint venture (JV).

The single-asset fund has acquired Beijing Suning Life Plaza, an integrated development comprising office and retail components in Beijing's Central Business District, for S$553 million (RMB2.81 billion).  It will invest to reposition the asset, converting and upgrading the retail space into a Grade A office that will command higher rent.

The programmatic JV will invest in special situation opportunities in China, in the commercial and new economy real estate sectors such as office, retail, logistics and industrial.  Investors will retain full discretion on whether to participate in each investment proposed under the JV.  CLI will manage the JV, which will harness the collective strengths of the partners in sourcing investment opportunities in China.

Mr Puah Tze Shyang, CEO of China, CLI, said: "The establishment of CapitaLand China Opportunistic Partners Programme following our three onshore RMB funds and China Data Centre Partners (CDCP) fund demonstrates CLI's strong ability to raise both onshore and offshore funds to accelerate our growth in China.  China is one of CLI's core markets, where we have close to 30 years of local investment and operational experience.  Our deep expertise allows us to unlock investment opportunities and offer our investors and partners a solid pipeline of deals in different real estate sectors to meet their investment objectives.  We believe in China's strong fundamentals and will continue to increase our presence in the market."

Mr Simon Treacy, CEO of Private Equity Real Estate, Real Assets, CLI, said: "As a leading global real estate investment manager, CLI has an international network of capital partners who recognise our competitive advantage in China.  CCOP and CDCP signal returning foreign capital appetite for China.  CCOP leverages CLI's strong deal sourcing, structuring and execution expertise to offer investors a bespoke strategy for each deal and attractive risk-adjusted returns as they gain or increase their exposure in the market.  CCOP will be a key driver of CLI's private fund management business."

For full release: https://bit.ly/CLICCOPEm