RRJ Capital raising real estate fund - Reuters

Asia private equity firm RRJ Capital is launching an up to $1 billion real estate fund that will mostly target investments in China, the firm's founder, former Goldman Sachs dealmaker Richard Ong, told Reuters on Monday. RRJ's new fund, which is initially seeking $500 million, will focus on residential, retail, hospitality and care homes for the elderly, and is expected to close in the first quarter of next year, Ong said. The fund will target a 25 percent to 30 percent return on investments, writes Reuters.

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