SINGAPORE: Singapore’s CapitaLand Investment is targeting US$500mil (S$633.4mil) in commitments from investors for its third Asia-Pacific credit programme, according to people familiar with the matter.
The latest fundraising effort by the Temasek Holdings-controlled asset manager is taking place months after it secured US$320mil for its second vehicle ACP II, which added about US$600mil to its funds under management.
APC III will continue its previous credit strategies’ focus on senior secured asset-backed investments, said the people, who asked not to be identified discussing private matters.
CapitaLand Investment will primarily target existing investors for the third fund and is aiming for a first close by year-end, the people said. A spokesperson for CapitaLand declined to comment.
The fundraising initiative comes as private credit in Asia faces mounting scrutiny, with investors questioning whether loans backed by collateralised assets remain safe bets. — Bloomberg
