CapitaLand Investment (CLI) has closed its latest Asia Pacific real estate credit strategy, raising US$320m (€274m).
CLI, which holds a 20% sponsor commitment in CapitaLand Asia Pacific Credit Program II (ACP II), said the vehicle secured equity commitments from a diverse group of capital partners predominantly in APAC. This included a mix of new and existing investors such as insurers, financial institutions and family offices.
The manager said ACP II is allocated to five first mortgage loans for logistics, office and living assets located in Sydney, Australia and in the Seoul Metropolitan Area in South Korea.
CLI said the inaugural fund in the series, a A$265m (€160m) vehicle, financed two mixed-use developments in Melbourne and Adelaide, Australia.
Kishore Moorjani, CEO, alternatives, private funds, said: “The successful close of ACP II is testament to CLI’s position as a partner of choice in APAC. CLI stands out with our deep asset-level expertise and strong operating capabilities. We remain committed to scale our asset-light fund management platform.”
Arjun Pandit, managing director, private funds, credit, said: “Our focus on developed, transparent and well-regulated markets where we have a deep local presence and operating insights allow us to source opportunities with strong downside protection and actively manage potential blind spots.
“With a robust pipeline in place, we are well positioned to deploy capital strategically and build on the momentum of our flagship APAC credit series.”
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