Cheung Kong group’s affiliate, ARA Asset Management Ltd, announced that it has raised about S$1 billion investor commitments for its private real estate funds.
The S$941 million gross investor commitments were raised through ARA Asia Dragon Fund II and ARA China Investment Partners LLC.
A substantial contribution has been raised by ARA China Investment Partners through the California Public Employees’ Retirement System (CalPERS), accumulating S$500 million in initial committed capital.
With an asset of around S$238 billion, CalPERS administers the retirement benefits of over 1.6 million California state, public school employees and local government as well as retirees and their families.
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