CapitaLand unveils debut China property fund

Deputy CEO of CapitaLand Financial, Pua Seck Guan, announces the terms of the first investment fund aimed at ChinaƆs booming (bubbling?) residential real estate market.

In a further sign of the irresistible attraction China seems to have on foreign investors, a subsidiary of Singapore's CapitaLand is plunging into the real estate fund management business. At a session of the China-Singapore Investment Forum held in Shanghai yesterday Thursday, deputy CEO Pua Seck Guan unveiled terms.

The $100 million fund, or $200 million if demands warrants, will be aimed at institutional investors with a minimum investment $10 million for a five-year term. Fees will be 3% to 5% and the fund hopes to provide investors with an internal rate of return of 20% excluding fees, says Pua.

The fund's marketing period will close in September, but...

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