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CapitaLand Investment raises US$320 mil for Apac real estate credit fund

Atiqah Mokhtar

/ EdgeProp Singapore

April 13, 2026 3:18 PM SGT

propertyeditor@edgeprop.sg

propertyeditor@edgeprop.sg

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The CapitaLand Asia Pacific Credit Program II is allocated to five first mortgage loans for assets in Australia and South Korea. Pictured here is one of the assets, a Grade A office in Sydney (Picture: CapitaLand)

The CapitaLand Asia Pacific Credit Program II is allocated to five first mortgage loans for assets in Australia and South Korea. Pictured here is one of the assets, a Grade A office in Sydney (Picture: CapitaLand)

CapitaLand Investment (CLI) has raised US$320 million ($408 million) in total equity commitments for its latest regional real estate credit fund, the CapitaLand Asia Pacific Credit Program II (ACP II). The company states in an April 13 release that the final close for ACP II adds approximately US$600 million to its funds under management.

Equity commitments for ACP II were secured from a mix of new and existing investors predominantly in Asia Pacifc (Apac). CLI holds a 20% sponsor commitment in the fund.

ACP II is allocated to five first mortgage loans for logistics, office and living assets located in Sydney, Australia, as well as the Seoul Metropolitan Area in South Korea.

Read also: CapitaLand Investment grows funds under management to $125 bil in FY2025, to accelerate capital recycling in 2026

The fund follows the full realisation of CLI’s inaugural credit programme, the A$265 million ($238 million) ACP I. The fund was conceived in partnership with Australian private credit investment manager Wingate, which CLI acquired in December 2024. ACP I financed two prime mixed-use developments in Melbourne and Adelaide.

In South Korea, CLI closed its KRW180 billion ($154 million) Korea Credit Program in February. The fund, a partnership with Korea Investment & Securities, has been fully deployed, CLI adds.

In its press release, CLI says it continues to grow its real estate credit franchise amid tightening bank lending conditions and rising demand for flexible capital solutions. It notes that institutional demand has risen for Apac real estate credit, with fundraising reaching US$11.2 billion between 2020 and 2024, up more than 40% over the previous five-year period.

However, real estate-backed lending is still an underserved segment in the region, accounting for just 6% of total financing, compared with 21% in Europe and 31% in the US, which CLI says presents an early mover advantage.

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