$CapitaLandInvest (9CI.SG)$ CapitaLand Investment Limited (C...

CapitaLand Investment Limited (CLI) announced on May 21 it has established its first onshore master fund in China, CLI RMB Master Fund, with a total equity commitment of RMB5 billion ($921 million). CLI has secured a major domestic insurance company to take up a majority stake in the master fund in line with its asset-light strategy to grow its funds under management (FUM). The master fund is expected to contribute RMB20 billion to CLI’s FUM when fully deployed.
The master fund will invest in a series of sub-funds that will seek to acquire high-quality, income-producing assets with long-term growth potential. The sub-funds will invest in business parks, retail, rental housing and serviced residences across Tier one and top Tier two cities. Future sub-funds may also invest in special opportunities in other sectors such as data centres, logistics parks and offices.