CapitaLand Investment Limited announced the final close of CapitaLand Asia Pacific Credit Program II (ACP II), securing approximately $320 million in total equity commitments and reinforcing its expansion in real estate credit across developed Asia Pacific markets.
ACP II is the second regional fund under the firm’s flagship real estate credit series and adds approximately $600 million to CapitaLand Investment’s funds under management. The fund is focused on senior secured, asset-backed lending, with allocations across five first mortgage loans tied to logistics, office, and living assets in Australia and South Korea.
The closing reflects continued investor demand for real estate-backed credit strategies, particularly amid tightening bank lending conditions and a growing need for flexible capital solutions. Institutional interest in the Asia Pacific region has increased as real estate credit remains relatively underpenetrated compared to more mature markets such as Europe and the United States.
ACP II attracted commitments from a diverse group of investors, primarily based in the Asia Pacific, including insurers, financial institutions, and family offices. CapitaLand Investment also committed approximately 20% of the fund’s capital, thereby aligning its interests with those of investors.
The firm continues to scale its real estate credit platform, supported by its operating expertise and governance framework. Through its partnership with Wingate, CapitaLand Investment has deployed more than S$10 billion in credit investments across the region to date, while expanding its distribution network to institutional and high-net-worth investors.
The launch of ACP II follows the full realization of its predecessor fund, ACP I, which financed mixed-use developments in Australia, as well as the deployment of its Korea Credit Program across diversified assets in Seoul. With a strong pipeline of opportunities, CapitaLand Investment plans to expand its presence in asset-backed lending across key Asia Pacific markets.
KEY QUOTES:
“Real estate-backed credit is central to CLI’s credit platform and is structurally differentiated from private corporate lending. Our disciplined focus on senior secured, asset-backed investments positions us away from the challenges currently facing the wider credit sector. The successful close of ACP II is testament to CLI’s position as a partner of choice in APAC. CLI stands out with our deep asset-level expertise and strong operating capabilities. We remain committed to scale our asset-light fund management platform.”
Kishore Moorjani, Chief Executive Officer, Alternatives, Private Funds, CapitaLand Investment
“The strong investor participation underscores confidence in CLI’s ability to originate and structure senior secured real estate credit with discipline and consistency across APAC. Our focus on developed, transparent and well-regulated markets where we have a deep local presence and operating insights allow us to source opportunities with strong downside protection and actively manage potential blind spots. With a robust pipeline in place, we are well positioned to deploy capital strategically and build on the momentum of our flagship APAC credit series.”
Arjun Pandit, Managing Director, Private Funds (Credit), CapitaLand Investment
