Singapore's CapitaLand Investment CAPN.SI will invest up to A$1 billion ($651.30 million) to expand its funds under management in Australia, the real estate investment manager said on Thursday.
The investment underlines the company's focus on the Australian market, where it currently manages more than A$9 billion worth of assets.
"The contributions will fuel CapitaLand Investment's $(CLI.UK)$ efforts to expand our investment products, capabilities and network to drive value creation for our partners," Group Chief Operating Officer Andrew Lim said.
The company also said it has strengthened its leadership team in Australia with the appointment of Angelo Scasserra as CEO, CLI Australia.
($1 = 1.5354 Australian dollars)
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