CapitaLand Investment, a Singapore-listed real estate asset manager majority owned by Temasek, expects to secure more large institutional mandates following its S$2.4 billion (US$1.9 billion) portfolio win from Income Insurance last month.
A senior executive said such mandates typically come after years of engagement with investors before commitments are made.
CapitaLand Investment’s CEO for Southeast Asia and global head of logistics and self-storage, Patricia Goh, said the group is now working to convert more potential investors it has engaged with over time.
She said the Income Insurance mandate was secured due to CapitaLand’s strong local presence, tenant relationships and track record in managing and optimising real estate assets.
Under the mandate, CapitaLand Investment will manage Income Insurance’s property portfolio, including making new investments, divestments and asset enhancements.
The company will also earn management, divestment and acquisition fees from the mandate.
Goh added that some investors are shifting more capital towards Asia Pacific, with Singapore remaining attractive despite global economic and geopolitical uncertainties.
CapitaLand said it will continue focusing on sectors where it has expertise, including logistics, retail, offices, mixed-use developments and self-storage.
