CapitaLand closes real estate debt fund with 75% of capital raised

Singapore

CAPITALAND has announced the first closing of the group's first discretionary real estate debt fund, with a target capital raise of US$750 million.

The property developer has raised over 70 per cent of the capital, or US$556 million for the fund's first closing, with subsequent commitments from major institutional investors expected later this year, it said.

The Credo I China fund will invest in offshore US dollar-denominated subordinated instruments for real e…