CREDO I China expects to raise US$750m in total. :
Singapore-based CapitaLand has raised US$556m (€488m) at the first close of its inaugural Chinese cities real estate debt fund which targets a US$750m fundraise. CapitaLand, which will hold a 10% cornerstone investment in the CREDO I China fund, said the fund will issue offshore US dollar-denominated subordinated instruments for real estate in China’s two-dozen or so first- and second-tier cities. It will focus on loans and securities of real estate covering commercial, retail, residential, logistics and industrial properties.