Dave Keating

CITIC CapitalLand Business Park Fund has closed on $72.5m, having raised money from domestic Chinese institutional investors. It is the first private equity real estate fund to be denominated in Yuan.

The UK government-backed fund of funds has invested in funds from IDFC, Actis and Kotak.

The London-based property fund manager has appointed former Goldman Sachs professional Michael Flynn as managing director of the new branch.

Prudential’s property investment arm will charge ahead with its fundraising for the Southeast Asian nation, according to its Asia chief executive Alex Hambly.

The London-based firm’s chief executive Simon Treacy says a second vehicle dedicated to Japan is in the works. The news comes as the firm has just closed the largest dedicated Asia real estate vehicle ever on $3.9bn.

A new report by the United Nations says investors should pressure property fund managers to invest in sustainable property, or risk seeing their returns slide sharply.

The Dutch investment firm is teaming up with South Korean hedge fund Woori Investment and Securities to raise a private equity property fund targeting Southeast Asia.

Anthony Heredia, a former HSBC Asset Management pro, has been appointed the new CEO for Morgan Stanley Investment Management in India.

Following Lehman’s $175m investment in a Mumbai development from Indian mega-developer Unitech, the firm is reportedly in talks to strike three similar deals with the company.

Capri Capital Partners has partnered with Emaar to invest in a $2bn commercial and residential development project in the new King Abdullah Economic City, which once complete, will become the third largest city in Saudi Arabia.