He also said: "After trying to win a major local insurance company to become a co-investor in this parent fund, we have the ability to attract other insurance companies to invest in the sub-funds and quickly expand our local investor base."
CapitaLand Investment has increased its investment in China's real estate, and the company has set up its first onshore parent fund in China with an investment of RMB 5 billion (about RMB 921 million).
A large insurance company in China is the main investor of the parent fund. When the fund is fully used for capital injection, it is expected to contribute 20 billion yuan (about S$3.7 billion) to the fund management scale of CapitaLand.
Capitaland Investment has more than 300 real estate projects in more than 40 cities in China, including office buildings, shopping malls, accommodation, business parks, logistics parks and data centers.
Pan Zixiang, CEO of CapitaLand Investment (China), pointed out that insurance companies are increasing their capital allocation for real estate in China, investing in diversified and real estate portfolios that can provide stable core returns. This fund has grasped this trend.
If new parent funds are included, CapitaLand Investment has raised a total of 54 billion yuan through seven RMB funds since 2021.
CapitaLand Investment (China) CEO Pan Zixiang pointed out that after winning a major local insurance company to become a co-investor in the parent fund, the company has the ability to attract other insurance companies to invest in the sub-funds and quickly expand its investor base in the local area. (Provided by CapitaLand Investment)
Group issued a statement on Wednesday (May 21) saying that CapitaLand Investment's RMB Master Fund will invest in a series of sub-funds, mainly investing in commercial parks, retail malls, rental housing and serviced apartments in first-tier and second-tier cities. The future sub-fund industry may invest in data centers, logistics parks, office buildings, etc.