CapitaLand Investment Report

CapitaLand Investment Limited / CLI ($2.87, up $0.02)

• Executive Leadership Changes:
  • CEO Transition: Simon Treacy, CEO of Private Equity Real Estate, will step down effective October 31, 2024. He will assume an advisory role, providing counsel to CLI’s private equity team.
  • New CEO of Private Equity Real Assets: Group CEO Lee Chee Koon will concurrently assume leadership of CLI’s Private Equity Real Assets (PERA), overseeing the growth of the company’s private funds business.
  • New Appointments:
    • Alan Tan: Managing Director & Head of Capital Raising, Private Capital Markets, and Managing Director, Special Projects for Private Equity Real Assets.
    • Kenny Khow: Managing Director for Global Data Centre, responsible for executing CLI’s global strategy for its data center business.
• Business Growth:
  • Private Capital Management: CLI has raised S$1.1 billion of capital and invested S$1.7 billion through its private funds business year-to-date in 2024.
  • Data Centers: CLI’s data center portfolio has grown significantly since 2021, now comprising 27 data centers with US$4.5 billion in assets under management and over 800 megawatts of gross power capacity.
• Strategic Focus:
  • CLI is working towards achieving S$200 billion in funds under management by 2028. The company is expanding its geographical footprint and enhancing its leadership team to drive key initiatives.
• Financial Overview:
  • Market Cap: CLI’s market capitalization stands at S$14.3 billion.
  • Valuation: It trades at 20x forward PE and 1x PB, with a dividend yield of 4.2%.
  • Target Price: Consensus target price is S$3.50, offering a 23% upside from the current share price.

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