Citigroup raises regional property fund

Citigroup Property Investors raises $1.29 billion for a regional real estate fund.

Citigroup Property Investors CPI announced Wednesday that it has raised $1.29 billion for its first fund to invest in real estate and related assets in the Asia-Pacific region, with a focus on China and India.

CPI, a unit of Citigroup, says that the investment team is committing $200 million of capital to the CPI Capital Partners Asia Pacific, L.P. fund. The fund will be managed by a Hong Kong-based team of more than 25 employees under the leadership of...

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