CapitaLand launches second logistics private fund of $400 million investing in India

On July 7, CapitaLand announced it has launched its second logistics private fund of $400 million (INR 22.5 billion) to expand in India’s logistics sector, one of the largest globally. CapitaLand India Logistics Fund II will invest in the development of logistics assets in key warehousing and manufacturing hubs in six major cities - Ahmedabad, Bangalore, Chennai, Mumbai, National Capital Region (NCR), and Pune, as well as in emerging markets such as Coimbatore, Guwahati, Jaipur, Kolkata and Lucknow.

“The launch of CapitaLand’s second logistics fund in India is in line with the Group’s strategy to expand our fund management business to generate recurring Fee Related Earnings (FRE) and grow the Group’s assets under management (AUM) in a capital efficient way. In 1Q 2021, CapitaLand’s FRE increased by more than 30% year-on-year. Our target is to grow CapitaLand’s FUM to at least $100 billion by 2024,” says Jonathan Yap, President, CapitaLand Financial.