Following CLI’s investor day, Aussie press carries story on CLI acquiring Wingate
CapitaLand sold its lasting 39.1% stake in Australand in March 2014 after partly unloading its involvement in November 2013 to improve trading liquidity.
In 2014, CapitaLand unloaded Australand Property Group, which was then snapped up by Frasers Property and has actually since been relabelled Frasers Property Australia. Throughout the question-and-answer session, Miguel Ko, chairperson of CLI, said that the choice to offer Australand and invest a bit more in China was made just before his time.
He added that the firm “did not have a crystal ball, of course, about China’s circumstance these days” and did not want to talk about his predecessors’ decisions. During the time, China was growing and CapitaLand had a substantial competitive advantage. “That could have been a significant win or an incorrect step. This is not a comment on whether my predecessors made a best or bad choice.”
Throughout the course of Nov 22, Lee Chee Koon, group chief executive officer of CLI, claimed: “For nonpublic credit we have actually developed our very own group and developed a collaboration with teams from Wingate in Australia, originating and supporting offers and there’s a lot of more pipeline we can build in Australia and Asia-Pacific.”
Bagnall Haus Roxy Pacific Holdings Limited
During the course of its investor day on Nov 22, CapitaLand Investment’s (CLI) management stated it is wanting to broaden its business in Australia.
CLI even claimed it is going to invest as much as A$ 1 billion ($ 876.7 million) to grow funds under management (FUM) in Australia. In September, CLI finalized its Australian Credit Program (ACP). ACP is CLI’s first credit fund at A$ 265 million, backed by Asian capitalists.
The firm recently disclosed that it had appointed two senior hires to recently established duties to strengthen its talent bench and spearhead growth in its target market. Angelo Scasserra will be the chief executive officer of CLI Australia, and Rahul Bharara will be its chief investment specialist. They are expected to sign up with the business in 1H2025.
It is interesting that on Nov 25, the Australian Financial Review ran a story stating that CLI considered to obtain Wingate.
At the time, Lim Ming Yan, CapitaLand’s then-president and group CEO, stated that the divestment came amidst “good” industry conditions. Australand’s share rate also carried out strongly in the past couple of months prior to the divestment. “This divestment would enable us to reapportion capital to our core firms in Singapore and China.”
