Mapletree Investments Secures $500 Million at First Close of Emerging Asia Logistics Fund

MT Newswires09-02

Mapletree Investments has garnered more than $500 million in equity commitments for the first close of its Mapletree Emerging Growth Asia Logistics Private Trust (Mega), according to a Tuesday statement.

The total includes $250 million in commitments secured during the first close of the fund, along with another $250 million raised through a joint venture and direct co-investments into selected development projects in Malaysia.

The company also plans to raise an additional $200 million in capital commitments for the second close targeted by early next year.

Mega will focus on logistics development opportunities across Malaysia, Vietnam and India markets. When fully deployed, the fund, along with the joint venture and co-investments, is expected to comprise a portfolio of assets with a total investment value of $2.1 billion across the fund's target markets.

The company's wholly owned subsidiary, Mapletree Real Estate Advisor, will manage the fund. The group will maintain a strong alignment of interest with investors by retaining a minimum 20% stake in the fund, it said.

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