Ivanhoe Cambridge leads investment in China developer

Montreal

IVANHOE Cambridge, the real estate arm of a top Canadian pension fund, said on Monday that it led a US$920 million capital raising in Shanghai developer Chongbang Group, as it and others in its consortium look to Asian markets for higher returns.

This is the second institutional capital raising for Chongbang, which was created in 2003 in Hong Kong by Singaporean and Hong Kong investors.