CapitalLand Investment aims to double fund under management by 2028

Singapore-based CapitaLand Investment Ltd (CLI), a global real asset manager, on Wednesday said the company aims to more than double its fund under management (FUM) in India by 2028 from the current level of nearly Rs 46,000 crore. In a statement, the company said it is targeting to more than double its FUM in its core market India by 2028, up from 7.4 billion Singapore dollars (Rs 458.8 billion) as on June 30, 2024. The CLI announced its growth strategies to achieve the FUM target for India, which it entered 30 years ago, including expansion of IT parks and logistics parks businesses. The company would explore entering into the renewable energy segment. Since entering India, the CLI has built a well-diversified portfolio comprising over 40 IT and business parks, industrial, logistics, lodging and data centre assets across eight cities in India - Bengaluru, Chennai, Goa, Gurugram, Hyderabad, Kolkata, Mumbai and Pune. Ascott currently operates seven properties across six cities. In 2024, Ascott opened two properties in Goa and Gurugram, with eight more expected to open in the next 3-4 years. "CLI will explore opportunities to enter adjacent business segments such as renewable energy and real estate private credit," the statement said. Renewable energy is a fast-growing segment in India with the government targeting to achieve 500 GW by 2030 from the current 111 GW. 
 

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