Singapore’s CapitaLand raises about $964 million for three new private funds

(Reuters) – Singaporean real estate manager CapitaLand Investment said on Friday it had raised about S$1.3 billion ($963.75 million) from global institutional investors for three of its new private funds.

The company said S$870 million of the raised money will be used for its fund meant to invest in real estate opportunities in China, taking its total equity to S$2.1 billion.

Of the remaining amount, S$134 million will go into its flagship real estate private fund and S$263 million into its new India business park development fund.

Separately, CapitaLand reported a first-half profit after tax and minority interests of S$351 million, down 19% from a year earlier, hurt by lower portfolio gains.

($1 = 1.3489 Singapore dollars)

(Reporting by Sameer Manekar in Bengaluru; Editing by Shinjini Ganguli)