What happened

Today, CapitaLand Investment (SGX: 9CI), or CLI, started trading on the Singapore exchange, opening at S$2.95 per share.

Recall that CLI is the result of a spin-off by property giant CapitaLand Group as part of its restructuring.

CapitaLand Group was split into two — the development division became fully owned by a unit of Temasek Holdings and was privatised, while the investment arm was listed as CLI.

So what

CLI is a global real estate investment manager (REIM) that owns a diversified portfolio of real estate classes comprising integrated developments, retail, office, lodging, business parks, and data centres.

As of 30 June 2021, CLI has S$119 billion worth of real estate assets under management (AUM) as well as S$83 billion of funds under management (FUM).

The group has assembled a team with experience across strategies, functions and asset classes.

CapitaLand Group CEO Lee Chee Koon will also helm CLI, and two new appointments were also announced.