Wednesday, July 16, 2008

CapitaLand Sets Up $1.4b China Private Equity Fund

Source : Reuters, Jul 16, 2008

CAPITALAND, South-east Asia's biggest property developer, said on Wednesday it had established a US$1 billion (S$1.4 billion) private equity fund in China to acquire property assets and to invest in new projects.

The fund has the option of a final closing by the end of December, which could boost its size to US$1.3 billion, it said in a statement.

CapitaLand, which would indirectly hold a 50 per cent stake in the fund, may reduce its stake to 45 per cent if there is strong investor demand, it said. -- REUTERS

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