CapitaLand Investment Limited has established its first onshore renminbi (RMB) fund in China, in partnership with a domestic asset management company. In line with CLI's asset-light strategy to grow its funds under management (FUM), it holds a 12% stake in the RMB 700 million (SGD 144 million) fund. Capitalising on a special situation opportunity arising from China's current market environment, the fund is acquiring a quality office building in Shanghai at an attractive price.

The transaction is expected to be completed in July 2022. CLI's private fund management business has been gaining traction with nine private funds incepted since 2021, raising over SGD 1.9 billion of third-party capital to invest in various asset classes globally including new economy, office and student accommodation sectors. CLI's private funds, listed funds and lodging management businesses will together drive growth in FUM and fee-related earnings.

Globally, CLI has 260 investment and asset management professionals.