CapitaLand Investment Limited (CLI), a global real asset manager, has unveiled a target to more than double its funds under management (FUM) in its core market India by 2028, up from S$7.4 billion (INR 458.8 billion) as at 30 June 2024. This will contribute to CLI’s global target of achieving S$200 billion in FUM by 2028. CLI announced its growth strategies to achieve the FUM target for India as it celebrates its 30th anniversary with business partners, investors and staff in Mumbai
Lee Chee Koon, Group Chief Executive Officer, CLI said: “India is a strategic market for us and a key contributor to CLI’s overall business. India has been one of our fastest growing markets, where our investments have tripled in the last seven years. With India’s GDP forecasted to grow 7% in 2024 and its trajectory to be the world’s third-largest economy in the next five years , the country is attracting demand from global corporations and institutional investors for quality real assets. Given our deep expertise in the country and the strong tailwinds, we are confident of more than doubling our current FUM of S$7.4 billion in India by 2028. This is also aligned with our priority on geographical diversification to achieve better capital rebalancing.”
“Our 30 years of experience and track record in managing a well-diversified portfolio positions us uniquely to capitalise on the growth opportunities in India. Given India’s strategic importance to CLI, we will also actively explore opportunities to enter adjacent business segments, including renewable energy and real estate private credit to further grow and diversify our income streams. As a long-term investor in India, we not only invest in the assets but also contribute significantly to the economic development of the country. We actively reach out to global corporations and through our activities and assets, attract many international players to invest and create good quality jobs in India,” added Lee.
Sanjeev Dasgupta, Chief Executive Officer, CLI India said: “India presents tremendous potential for CLI. We will drive growth through our listed CapitaLand India Trust (CLINT) and our private funds. We have successfully established four private funds across logistics and business parks, and we see opportunities for data centre funds in India riding on the country’s fast-growing digital economy. We will leverage our operational expertise to grow the value of our assets, further expand our logistics footprint under our established logistics platform, Ascendas-Firstspace (AFS) and scale up our lodging portfolio through CLI’s lodging arm, The Ascott Limited. CLI remains focused on delivering sustainable returns to our capital partners as we continue to contribute to India's vibrant economic landscape and the local community.”
