Following CLI’s investor day, Aussie press carries story on CLI acquiring Wingate
In 2014, CapitaLand divested Australand Property Group, that was then snapped up by Frasers Property and has actually since been renamed Frasers Property Australia. Throughout the question-and-answer session, Miguel Ko, chairperson of CLI, stated that the choice to market Australand and invest even more in China was prepared before his time.
During its investor day on Nov 22, CapitaLand Investment’s (CLI) management mentioned it is looking to broaden its company in Australia.
He added that the firm “did not have a prediction, of course, about China’s condition nowadays” and did not want to discuss his forerunners’ choices. During the time, China was booming and CapitaLand had a big competitive advantage. “That could have been a major gain or a wrong action. This is not a comment on whether my predecessors made an ideal or bad judgment.”
CapitaLand sold its remaining 39.1% risk in Australand in March 2014 after partially unloading its involvement in November 2013 to boost trading liquidity.
CLI even said it is going to invest up to A$ 1 billion ($ 876.7 million) to grow funds under management (FUM) in Australia. In September, CLI shut its Australian Credit Program (ACP). ACP is CLI’s initial credit fund at A$ 265 million, supported by Asian capitalists.
It is insightful that on Nov 25, the Australian Financial Review ran a story saying that CLI intended to get Wingate.
During the course of Nov 22, Lee Chee Koon, group chief executive officer of CLI, stated: “For private credit we have actually constructed our own team and formed a partnership with teams from Wingate in Australia, stemming and supporting deals and there’s a lot of more pipeline we can build in Australia and Asia-Pacific.”
The company recently introduced that it had appointed 2 senior hires to newly formed roles to reinforce its talent bench and spearhead progress in its target market. Angelo Scasserra will be the CEO of CLI Australia, and Rahul Bharara will be its main investment officer. They are expected to join the company in 1H2025.
At the time, Lim Ming Yan, CapitaLand’s then-president and group CEO, stated that the divestment came in the middle of “beneficial” market situations. Australand’s share rate additionally carried out strongly in the past few months prior to the divestment. “This divestment would permit us to reapportion capital to our core businesses in Singapore and China.”
