Singapore's CapitaLand Investment announced that it plans to acquire a 40 per cent stake in SC Capital Partners Group (SCCP) for $280 million. Additionally, the company intends to invest at least $524 million in SCCP.
The acquisition of the 40 per cent stake in SCCP, a Singapore-based real estate investment manager, is expected to increase CapitaLand's funds under management (FUM) by $11 billion. The company explained that this move would strengthen its presence in Japan, its key market, where 76 per cent of the additional $11 billion FUM is located.
In its statement, CapitaLand emphasised that the transaction would position it as a leading real asset manager in the Asia Pacific region, with a combined FUM of $113 billion.
CapitaLand also mentioned that it would fund the initial investment for the 40 per cent stake through cash, with the transaction anticipated to close in the first quarter of 2025. The company revealed plans to acquire the remaining 60 per cent stake in SCCP gradually over the next five years. Until the acquisition is fully completed, SCCP will continue to operate independently.
