Nov. 14 (Bloomberg) -- Citic Capital Holdings Ltd., part-owned by China’s sovereign wealth fund, said it raised $225 million in a first closing for its fourth real estate fund from investors including Townsend Group.
Citic Capital Real Estate group has invested in 18 projects in China worth more than a combined $3 billion, Citic Capital said in an e-mailed statement today. The real estate fund is seeking to raise $600 million, Citic Capital said.
The fund focuses on retail property and mixed-used developments with a “substantial retail portion” in second-and third-tier cities in China. Citic Capital manages about $4.6 billion and invests in private equity, real estate, structured investment and asset management, the statement said.
To contact the reporters on this story: Cathy Chan in Hong Kong at email@example.com
To contact the editors responsible for this story: Philip Lagerkranser at firstname.lastname@example.org