CLI acquires Australian investment firm Wingate for $173m

The acquisition will boost CLI’s FUM in Australia by over 30%.

CapitaLand Investment Limited (CLI) has acquired the property and corporate credit investment management business of Australian investment firm Wingate for $173m (AU$200m), plus an earn-out.

The acquisition will expand CLI’s private credit business and portfolio in Australia. It will also increase CLI’s funds under management (FUM) in Australia by over 30% to $8.3b, contributing 7% of CLI’s total FUM.

CLI currently manages 34 logistics properties and business parks, along with four Grade A office buildings in Australia. It also oversees more than 13,500 lodging units across over 150 properties under its wholly owned lodging business unit, The Ascott Limited.

“Wingate’s private credit capabilities complement CLI’s own private funds platform, and will enable us to collaborate to create greater value for our capital partners in Australia and beyond. We see scalable private credit opportunities in other Asia Pacific markets, most notably in South Korea, India, and Japan,” Paul Tham, group CFO of CLI said.

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CapitaLand Investment Limited

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