Investa Property Group's Investa Commercial Property Fund, or ICPF, plans to raise A$500 million to fund new acquisitions and development projects, IPE Real Assets reported.
The Sydney-based fund will launch the capital raising in the week of Sept. 30, targeting investors in Asia, the U.K., Europe and North America. The fund's existing investors will have preemptive rights to subscribe to the capital raising.
The planned raising has drawn strong interest from Asia, particularly Japan, said Jason Leong, fund manager for ICPF.
