CapitaLand targets US$500 million for third Asian credit fund: Bloomberg
The Temasek-backed asset manager will primarily target existing investors for APC III
Published Tue, Sep 8, 2026 · 10:49 AM
SINGAPORE’S CapitaLand Investment (CLI) is targeting US$500 million in commitments from investors for its third Asia-Pacific credit programme, according to people familiar with the matter.
The latest fundraising effort by the Temasek-controlled asset manager is taking place months after it secured US$320 million for its second vehicle ACP II, which added about US$600 million to its funds under management.
APC III will continue its previous credit strategies’ focus on senior secured asset-backed investments, said the people, who asked not to be identified discussing private matters.
CLI will primarily target existing investors for the third fund and is aiming for a first close by end-2026, the people said. A spokesperson for CLI declined to comment.
The fundraising initiative comes as private credit in Asia faces mounting scrutiny, with investors questioning whether loans backed by collateralised assets remain safe bets.
The collapse of Australian property developer Bathla Group, which heavily relied on private debt, has heightened concerns that the nation’s A$200 billion (US$144 billion) private credit market – where real estate accounts for as much as 60 per cent of lending – is beginning to show cracks.
The firm’s first credit program, ACP I, raised A$265 million which financed two prime mixed-use developments in Melbourne and Adelaide, the company said in April.
The second funding pool was allocated to mortgage loans for logistics, office and living assets in Sydney and Seoul.
The company has said its real estate credit platform has deployed over S$10 billion (US$7.9 billion) across Apac with Wingate Group which it acquired in 2025.
One of Australia’s largest private credit managers, Wingate was one of over 40 asset managers that lent to Bathla before it collapsed, Bloomberg News reported in August.
CLI has been undergoing a series of personnel changes.
In July, the firm disbanded its special opportunities team that was dedicated to pursuing strategies with higher risks.
Separately, Jeff French joined in March as chief operating officer of the firm’s alternatives business after a stint at BNP Paribas Asset Management. BLOOMBERG
