CapitaLand Investment Acquires SC Capital Partners
Above, SC Capital Partners’ Suchad Chiaranussati (left) and CapitaLand Investment CEO Lee Chee Koon
20 Nov 2024
Singapore’s CapitaLand Investment Limited is acquiring 40% of SC Capital Partners for $214 million (S$280 million) and the remaining stake of the company in phases over the next five years, giving it full ownership by 2030. CapitaLand Investment says it will also invest at least $400 million to support the growth of SC Capital Partners.
As at June 2024, Singapore-based SC Capital Partners, a real estate investment manager, has a total of S$11 billion fund under management, 76% of which is in Japan. Hospitality asset class is one of its specialties and its chairman/founder, Suchad Chiaranussati, is widely acknowledged as a doyen in Asia-Pacific’s hotel investment circles.
A big reason for this acquisition is it gives CapitaLand Investment a maiden entry into Japan’s REIT market. SC Capital Partners’ Japan Hotel REIT is the second largest hospitality REIT listed in Japan and 13th largest REIT in the country.
SC Capital Partners will continue to operate independently until CapitaLand Investment completes its acquisition of the remaining 60% stake, although the latter will participate at the board level in investment strategies that require the use of strategic capital.
Read the full details here.