CapitaLand Investment exceeds equity target, raising over US$650 million with final close of CapitaLand Ascott Residence Asia Fund II
05 Nov 2025
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Singapore, 5 November 2025 – CapitaLand Investment Limited (CLI), a leading global real asset manager, has achieved final close for its value-add lodging private fund, CapitaLand Ascott Residence Asia Fund II (CLARA II), securing over US$650 million (approximately S$850 million[1]) in total equity commitments and co-investments across the fund and associated vehicles. This is above the fund’s US$600 million equity target and underscores continued investor confidence in the living and lodging sector as well as CLI’s investment and operational expertise in Asia Pacific.
CLARA II will add approximately US$1.6 billion (approximately S$2.1 billion) to CLI’s total funds under management. Global investors in the fund include new and repeat capital partners, comprising a diverse pool of institutional investors, pension funds and financial institutions from Asia, Europe and North America. CLI has committed a 20% sponsor stake to ensure strong alignment.
CLARA II targets opportunities in the living and lodging sector across gateway cities in Asia Pacific, focusing on unlocking value by transforming underutilised assets into high-performing living and lodging properties. CLARA II leverages the expertise of best-in-class operators in the sector, including CLI’s lodging business unit - The Ascott Limited, to enhance asset performance.
The fund has deployed approximately half of its committed equity across three assets. CLARA II’s portfolio comprises a serviced residence and a coliving property in Japan, as well as a coliving property in Singapore[2].
