Mapletree raises USD1.4bn for its largest China-focused private fund
Mapletree Investments has held the final closing of its private real estate fund, Mapletree China Opportunity Fund II (MCOF II), at its hard cap of USD1.4bn.
This is well above the initial target of USD1.0bn. At USD1.4bn, MCOF II is one of the largest China-focused private equity real estate funds raised to-date.
Seeded by two mixed-use development projects, MCOF II was closed within 10 months after its marketing launch in October 2012, and just two months after its first closing at the end of June 2013 for USD1.1bn.
Hiew Yoon Khong, group chief executive officer of Mapletree, says: “Capital management is key to us in executing our business objective to generate consistent and high returns. We have a range of offerings for different risk-return investor profiles. The establishment of MCOF II is facilitated by the successful investments and realisations we have made in the China market. Mapletree has been investing in China since 2005 and has over the years built considerable experience, knowledge and track record to position us to invest successfully in China for MCOF II. At the same time, we believe in aligning our own capital commitment significantly with our co-investors. For MCOF II, we have committed 36 per cent of the fund’s total capital commitments.”