CLSA closes third Asia fund at $1b, beats $850m target
Tuesday, June 16, 2015
(Dealstreetasia by Joji Thomas Philip) – Fudo Capital, the real estate investment arm of Hong Kong-based private equity firm, CLSA Capital Partners, has closed its third fund at its hard cap of $1 billion, according to an SEC filing.
The latest vehicle – Fudo Capital III – was launched in early 2014, and had seen its first close in March last year at $385 million, followed by another close in June at around $537 million, and it had neared two-thirds of $1 billion target by November 2014. The final close at $1 billion is higher than its initial target of $850 million for Fudo Capital III.
CLSA Capital Partners had closed its second vehicle at $815 in 2009, against a target of $750 million. The assets of its second vehicle include the Hongjia Tower in Shanghai and the Laguna Plaza shopping centre in Hong Kong. Similarly Fudo Capital I had raised $430 million in 2005 against a target of $350 million.
