Following CLI’s investor day, Aussie press carries story on CLI acquiring Wingate
CapitaLand sold off its lasting 39.1% stake in Australand in March 2014 after partially divesting its involvement in November 2013 to strengthen trading assets.
He included that the firm “did not have a prediction, obviously, about China’s situation nowadays” and did not want to talk about his forerunners’ choices. At the time, China was growing and CapitaLand had a substantial competitive advantage. “That could have been a significant gain or an incorrect move. This is not a talk no matter if my predecessors made an ideal or bad choice.”
In 2014, CapitaLand divested Australand Property Group, which was then grabbed by Frasers Property and has since been renamed Frasers Property Australia. During the question-and-answer program, Miguel Ko, director of CLI, claimed that the decision to sell Australand and invest even more in China was made just before his time.
It is interesting that on Nov 25, the Australian Financial Review ran a story saying that CLI planned to acquire Wingate.
CLI even stated it is going to invest approximately A$ 1 billion ($ 876.7 million) to increase funds under management (FUM) in Australia. In September, CLI closed its Australian Credit Program (ACP). ACP is CLI’s first credit fund at A$ 265 million, supported by Asian investors.
At the time, Lim Ming Yan, CapitaLand’s then-president and team CEO, claimed that the divestment came amid “favourable” industry situations. Australand’s share price additionally performed highly in the past couple of months before the divestment. “This divestment would allow us to reallocate capital to our core companies in Singapore and China.”
In the course of its investor day on Nov 22, CapitaLand Investment’s (CLI) management said it is looking to broaden its organization in Australia.
During the course of Nov 22, Lee Chee Koon, group CEO of CLI, said: “For private credit we’ve built our own group and created a collaboration with teams from Wingate in Australia, coming from and signing deals and there’s a lot of more pipeline we can integrate in Australia and Asia-Pacific.”
The company recently announced that it had appointed two top hires to newly formed roles to reinforce its talent bench and spearhead progress in its target market. Angelo Scasserra will be the chief executive officer of CLI Australia, and Rahul Bharara is going to be its chief investment expert. They are assumed to sign up with the firm in 1H2025.
