CapitaLand Investment establishes China data centre development fund with S$1 billion investments

SINGAPORE - Feb. 23, 2023 - PRLog -- CapitaLand Investment Limited (CLI) has established a China data centre development fund, CapitaLand China Data Centre Partners (CDCP).  CDCP has committed to invest in two hyperscale data centre development projects in Greater Beijing, and upon completion of the projects, will add approximately S$1 billion to CLI's funds under management.

Total equity committed to CDCP is S$530 million, with existing and new global institutional investor clients holding an 80% effective stake in CDCP, and CLI holding the remaining 20%.  CDCP's establishment is in line with CLI's strategy to grow its portfolio of new economy assets under management and enhance long-term business resilience.

Mr Patrick Boocock, CEO, Private Equity Alternative Assets, CLI, who also oversees the growth of CLI's global data centre business, said: "As one of the fastest growing new economy asset classes providing critical digital infrastructure for the global economy, data centres present a tremendous opportunity and are a key strategic focus for CLI.  We have built core competencies in data centre design, development, commercial sales and operations, with 26 data centres across Asia and Europe that will offer more than 500 MW of power on a completed basis.  We are seeing strong investor interest as the surge in demand for cloud computing, 5G technology, and e-commerce are driving growth in this sector.  Leveraging our strength in real estate, we are actively building our capabilities in real assets and growing our alternative assets platform.  CDCP is our third data centre development fund, following the establishment of two such funds in South Korea.  We are excited to bring our capabilities to the China market and advance our ambition of becoming a major global digital infrastructure player."

Mr Puah Tze Shyang, CEO of CLI China, said: "As a leading global real estate investment manager with about 30 years of experience in China, we are able to leverage our wide network and deep expertise to bring quality assets to international investors who are keen to invest in China across different asset classes including data centres.  CLI's competitive advantage lies in our position as a vertically integrated group in China with a full range of capabilities, from investment sourcing, development, having a strong customer network to operations.  We have S$46 billion of assets under management in China."

For full release: https://bit.ly/CLICDCP