China’s KaiLong closes USD fund II at $575m

China's KaiLong closes USD fund II at $575m

China-based real estate investment management company, KaiLong Group (“KaiLong”) has closed its second US-dollar denominated Greater China Real Estate Fund II (“USD Fund II”), at USD 575 milion.

KaiLong’s USD Fund II includes commitments from its anchor investor Allianz. Last year in October, Allianz had announced a 35 percent stake in the KaiLong Greater China Real Estate Fund II. Current investors include pension funds, insurance companies, multi-managers and family offices.

”KaiLong’s USD Greater China Real Estate Fund II is already over 30% deployed in its targeted tier 1 cities; this provides additional comfort for investors as they have greater visibility on the fund’s portfolio,” said in a statement.

“We have been delivering our targeted returns since 2004 and expect to continue to achieve these returns by applying our value-add strategies which is largely created by our vertically integrated 65+ person team head quartered in Shanghai,” said The Founder and Chairman of KaiLong Group, Hei Ming Cheng.