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KaiLong Group raises $575m

The Shanghai-headquartered manager has successfully raised its second real estate fund.

KaiLong Group has held a final close of KaiLong Greater China Real Estate Fund II at $575 million, surpassing its initial target of $500 million. The value-added vehicle is dedicated to industrial, office and retail real estate assets primarily in Hong Kong and mainland China.

Allianz Real Estate anchored the fund and has committed more than 30 percent of the total capital.