CLI aims to 'more than double' India funds under management by 2028

As of 30 June, CLI's FUM in India was $7.4b.

CapitaLand Investment (CLI) aims to "more than double" its funds under management (FUM) in its core market India, by 2028.

As of 30 June, CLI's FUM in India was $7.4b (INR458.b).

To meet its goals, CLI plans to actively explore new business segments like renewable energy and real estate private credit, aiming to expand and diversify its income streams.

"Renewable energy is a fast-growing segment in India with the government targeting to achieve 500 gigawatts (GW) by 2030 from the current 111 GW," CLI said.

"CLI has a captive demand for renewable energy from its tenants across its data centres and business parks," it added.

In January 2024, CLINT, CLI's India-focused property trust listed in Singapore, commissioned its first captive solar power plant in Tamil Nadu.

Meanwhile, CLI said it plans to tap into real estate private credit as it has been "gaining institutional investor interest."

"The debt market in Indian real estate has a potential US$170b financing opportunity between 2024 and 2026, driven by the increasing demand for residential construction finance," CLI said.

By more than doubling its FUM in India, CLI will be able to achieve its global target of $200b by 2028.