[photopress:real_estate_china.jpg,full,alignright]China property fund Pacific Alliance China Land raised $400 million on London’s Alternative Investment Market (AIM). The property fund, which sold 400 million shares at $1.00 each, is the fifth AIM-listed fund launched by Pacific Alliance, which has over $3.5 billion in assets under management.
Pacific Alliance China Land, which traded up 7% in its London debut, will invest in residential, commercial and industrial properties in China.
The property fund will focus on second and third tier cities such as Hangzhou, Suzhou and Chengdu. It also has investment pipelines in place in Shanghai, Xian, Dalian and Macau.