James Lim, CEO of CapitaLand Investment Management (CLIM) has resigned from his position at the helm of the private fund management division of the Singaporean property conglomerate, Mingtiandi has come to understand.
Lim, who came on board with CapitaLand to help launch the private fund management unit just under two years ago, notified his team of his decision to leave the company earlier this month, with the veteran real estate finance said to be departing to pursue other opportunities.
The change in leadership comes five months after Lim’s team reached a $391 million first close on its inaugural discretionary equity investment fund, with CLIM having raised more than $1 billion for its funds during Lim’s tenure with the firm.
Veteran Finance Executive Moves On
Before joining CapitaLand in 2017 Lim had spent three years with HSBC where he helped to build the banking giant’s commercial real estate finance platform for Asia Pacific. A rare non-Singaporean in the upper ranks of CapitaLand, Lim’s nearly twenty year career in finance also includes senior roles with Morgan Stanley, BNP Paribas, ANZ and Lehman Brothers.
During his two years at CapitaLand, Lim built a fund management team of more than 20 people and led the establishment of two funds.
In February CLIM announced a $556 million first closing on its first-ever discretionary debt fund, Credo 1. Then in April the company unveiled a $391 first closing on CapitaLand Asia Partners I (CAP I), a value-add office investment fund targetting projects in leading cities in mainland China, Japan and Singapore.
CapitaLand has yet to announce Lim’s departure and no reports have emerged indicating new leadership for the company’s private real estate fund management division.