Capital Place is held under the CapitaLand Vietnam Commercial Value-Added Fund (CVCVF). CLD holds a 50-per-cent stake in CVCVF while the remaining share is held by MEA Commercial Holdings Pte. Ltd. The CVCVF was incepted in 2017 with a fund size of $130 million and is managed by CapitaLand Investment Limited (CLI), the real estate investment management business of CapitaLand Group and a leading global real estate investment manager. Capital Place, an international Grade A office building in Hanoi Upon completion of the transaction, the fund will be fully divested and closed, providing investors in the fund an internal rate of return of 34 per cent, almost triple the fund’s hurdle rate. The fund was also able to access regional debt markets to obtain an efficient capital structure which further boosted the fund’s returns. This stellar result will generate carried interests of $17 million to CLI and provides a strong track record for CLI’s future private equity funds. … [Read more...] about CapitaLand Development divests Capital Place in Hanoi for $550 million