Singapore’s CapitaLand Investment announced on Wednesday that it plans to more than double its funds under management (FUM) in India by 2028, increasing from S$7.4 billion ($5.66 billion) as of June 30. The announcement comes just hours before Prime Minister Narendra Modi’s scheduled arrival in Singapore on Wednesday.
This initiative is part of the company’s broader goal to reach S$200 billion in global FUM by 2028, according to the real estate investment manager.
“India is drawing interest from global corporations and institutional investors seeking high-quality real assets,” said Group CEO Lee Chee Koon. He added that the company would also explore opportunities in the renewable energy and real estate private credit sectors in the country.
Last month, CapitaLand launched a fund focused on business park development in India, which is expected to add S$700 million to its FUM.
This is a developing story, and more details are expected soon.
