Singapore’s CapitaLand Investment, which recently secured a S$2.4 billion ($1.9 billion) mandate from a local insurer, expects to win more large institutional mandates, Patricia Goh, the firm’s chief executive officer for Southeast Asia, says in an interview with Reuters.
The real asset manager is 52% owned by Singapore state investor Temasek Holdings Pte Ltd. Last month, it won a mandate from Income Insurance to manage a portfolio of retail, commercial and industrial assets held directly by the insurer as well as its joint venture firms.
According to Goh, who is also CapitaLand Investment’s global head of logistics and self-storage, private capital commitments like the one from the insurance firm typically come after lengthy engagements.
“When private capital partners commit $500 million to $1 billion in equity, it’s actually after years of engagement. The expectation is that we will be able to convert more investors who we have been trying to get to understand us over the past few years,” she is quoted as saying in the interview published on May 14.
She says the firm won the Income Insurance mandate because of its local presence,tenant relationships and track record in buying, managing and selling assets across sectors.
CapitaLand Investment managed S$117 billion of assets as of end-2024, the latest publicly available figure.
Spokespersons for the firm, which is listed on the Singapore bourse, did not immediately respond to questions from Asia Asset Management.
