SINGAPORE (March 17): Shanghai Richmont Equity Investment Management (Richmont Capital), the wholly-owned fund management subsidiary of property developer CWG International, will be launching a US$20 million ($28 million) overseas property fund to invest in CWG’s property development projects in Australia and US.

The total size of the fund, entitled Chiwayland Overseas Investment Opportunity No. 2 Ruize Capital Claim Investment Plan, may be increased to a maximum of US$24 million.

Additionally, through its wholly-owned subsidiary Suzhou Chiwayland Group, CWG intends to provide a corporate guarantee for the investments from high net worth individuals for the fund with a letter of support.

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