According to a media statement by CLI, as of June 30, CLI had about $119 billion of real estate assets under management (AUM), of which more than 80% are located in Asia. CLI’s real estate funds under management (FUM) stood at about $83 billion, held via six listed real estate investment trusts and business trusts, and over 20 private funds.
Miguel Ko, chairman of CLI, says CLI’s listing marks another milestone in CapitaLand’s transformation journey. “We remain unwavering in our focus to create long-term shareholder value and enhance our global competitiveness. The ride ahead for CLI is an exciting one, filled with opportunities and potential as more global capital flows into Asia and the market increasingly appreciates the value of Asia-based real estate investment managers,” he says.
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“As we embark on this new chapter, we know we can continue to rely on the stewardship of our board of directors; the dedication of our management and staff; and the enduring support from our tenants, partners and shareholders. On this occasion, we also want to acknowledge the contributions of the former board and management of CapitaLand, for laying a strong foundation for CLI. From today onwards and after the listing, the board and management of CLI will take this strong mandate from the shareholders to continue our journey of proactively enhancing our already strong foundation in real estate investment and management.”
CLI also introduced its leadership council which will be helmed by Lee Chee Koon as group CEO and executive non-independent director.
In addition, the company announced the appointments of Simon Treacy as CEO of private equity real estate as well as Patrick Boocock as CEO of private equity alternative assets. Both appointments are expected to take effect by end-November.
Treacy formerly served as managing director, global chief investment office and head of US equity for BlackRock Real Estate. In his new role, he will be responsible for driving the growth of CLI’s private equity real estate business.
Meanwhile, Boocock will be in charge of building and growing CLI’s private fund business in alternative assets to expand the Group’s unlisted fund portfolios. He was previously managing partner and head of Asia at Brookfield Asset Management.
CLI’s leadership team is well supported by over 260 investment and asset management (IAM) specialists globally.
“We are pleased to welcome Simon and Patrick onboard CLI’s senior management team. With their relevant experience and exceptional track record, I am confident they will help to take CLI’s private equity fund management business to a new level,” says Lee.
“While extending our dominance in the listed funds sector, we aim to grow, diversify and distribute new private fund products. Both the listed funds and the private equity business will augment CLI’s AUM and FUM growth globally. We are committed to execute these growth strategies, which will span across multiple real estate asset classes; including the current and new economy assets, management and operating platforms as well as alternative assets such as digital and social infrastructures, private credit, and others,” Lee adds.
Shares in CLI will be listed on the SGX with the trading name “CapitaLandInvest” and stock code “9CI”.
Photo: CLI
