Puah Tze Shyang, Chief Executive Officer of CLI China, says that CLI has over three decades of deep on-the-ground expertise in China.
"Our first master fund in China demonstrates CLI’s capabilities in structuring and launching a diversified suite of RMB funds tailored to domestic investors’ needs. This allows us to tap into a rising trend of insurance companies increasing their capital allocation to real estate in China, providing them opportunities to invest in a diversified and resilient portfolio of stabilised assets with core returns," says Puah.
"With a major domestic insurance company as a co-investor in the master fund, we are well-placed to attract other insurance firms to invest in the sub-funds and rapidly expand our domestic investor base. With this new fund, we have successfully raised RMB54 billion across seven RMB funds since 2021, demonstrating the strong momentum of our domestic-for-domestic fund strategy to grow FUM and recurring fee income," adds Puah.
In April, CLI announced it has applied to list its first real estate investment trust in China, to be named CapitaLand Commercial C-REIT (CLCR). CLCR will broaden CLI’s access to domestic capital and further grow its recurring fee income.
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CapitaMall Yuhuating owned by CapitaLand China Trustand CapitaMall Sky+ owned by CLI and CapitaLand Development will be the two seed assets for CLCR.
