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Canada Pension Invests $375 Million in CapitaLand’s China Fund

Canada Pension Plan Investment Board, the country’s largest pension fund, said it invested $375 million CapitaLand Ltd.’s latest China property fund.

CapitaLand, Singapore’s largest developer, closed its $1.5 billion Raffles City China Investment Partners III fund, which will invest in gateway cities in China, the company said in a separate statement Tuesday. CapitaLand will subscribe to a 41.7 percent stake in the fund and Canada Pension will take 25 percent, with the other investors coming from Asia, the Middle East and North America.