China's Citic Raises $225M For Retail Real Estate Fund

Law360, New York (November 14, 2011, 6:45 PM EST) -- Chinese state-owned investment fund Citic Capital Holdings Ltd. has raised $225 million from global investors including the Townsend Group in a first closing for its fourth real estate fund, the company announced Monday.

The fund, Citic Real Estate's first since 2008, has already invested in 18 projects in China with a combined value of more than $3 billion, according to the company. Citic says it has set a $600 million goal for the fund, which will shift away from its previous funds' residential property focus....
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