CapitaLand Investment (CLI) announced on Nov 5 that it has secured $261 million capital commitment from a new Japanese capital partner, Mitsui O.S.K. Lines (MOL), for its Southeast Asia (SEA) and India private funds.
MOL has committed $130 million capital in CapitaLand SEA Logistics Fund (CSLF), CLI’s first logistics fund in Southeast Asia. This marks the second close of CSLF, bringing its total equity size to $400 million.
CLI is also closing its $525 million CapitaLand India Growth Fund 2 (CIGF2) with $131 million capital commitment from Daibiru Corporation, the real estate subsidiary of MOL.
The capital commitment will increase CSLF’s potential funds under management (FUM) to $1 billion and CIGF2’s FUM to more than $1 billion. MOL holds a 32.5% stake in CSLF, which invests in and develops smart logistics infrastructure in Southeast Asia.
Daibiru will hold a 25% effective stake in CIGF2, which invests in Grade A business parks in prime locations across gateway cities in India. Another Japanese firm, Mitsubishi Estate Co., holds a 50% stake in CIGF2.
CLI continues to maintain a sponsor stake in both funds as part of its asset-light growth strategy while keeping alignment with the interests of its capital partners.
The capital infusion from MOL enables CSLF to accelerate its deployment across a range of greenfield and brownfield logistics investments.
CSLF has a seed asset, OMEGA 1 Bang Na, which is a greenfield built-to-suit development strategically located in a prime logistics cluster within the Greater Bangkok Metropolitan area in Thailand. This freehold logistics campus comprises two buildings with ambient and cold storage capabilities as well as an automated storage and retrieval system.
With a gross floor area of over 2 million sq ft, it will be Thailand’s largest standalone warehouse when completed. OMEGA 1 Bang Na also marks CLI’s first logistics property in Thailand. Phase 1 of the construction is expected to be completed in early 2026.
Daibiru’s investment in CIGF2 will see the real estate company take a 25% effective stake in International Tech Park Chennai, Radial Road (ITPC-Radial Road).
Located in the business hub of Chennai, the 2.6 million-square feet ITPC-Radial Road caters to the IT and IT-enabled services sector. It offers two blocks of Grade A office space, state-of-the-art infrastructure, and is well-connected with all modes of transport including the upcoming metro line.
CLI says it will continue to seek investment opportunities in major metro cities such as Bangalore, Mumbai and Pune to expand CIGF2’s portfolio.
CLI closed at $2.87 on Nov 4.
