Singapore's CapitaLand raises about $964 million for three new private funds

Singapore-based real estate firm, CapitaLand Investment, announced on Friday that it successfully garnered approximately S$1.3 billion ($963.75 million) from international institutional investors for three of its recently launched private funds.

The firm announced that S$870 million of the funds raised will be allocated to its Chinese real estate investment fund, thereby increasing its overall equity to S$2.1 billion.

Out of the remaining sum, a total of S$134 million will be allocated towards the primary real estate private fund, while S$263 million will be designated for the establishment of a fresh India business park development fund.

In other news, CapitaLand has announced a profit after tax and minority interests of S$351 million for the first half of the year. This reflects a 19% decrease compared to the same period last year due to reduced portfolio gains.

(One Singapore dollar is equivalent to 1.3489 US dollars)

Written by Sameer Manekar in Bengaluru; Revised by Shinjini Ganguli