About This Fund
CLARA II, a real estate buyout fund, will invest in serviced residences and coliving properties in gateway cities in key developed Asia Pacific markets. CLARA II is CLI's second private fund that focuses on serviced residence and coliving assets. It is the follow-on fund to the US$600 million (S$800 million) Ascott Serviced Residence Global Fund (ASRGF). CLI will hold a 20% sponsor stake in CLARA II in line with its asset-light strategy to grow its funds under management while keeping strong alignment with its investors and partners. The remaining 80% will be held by third-party institutional investors. CLARA II leverages the global operating expertise of The Ascott Limited (Ascott), a lodging business unit wholly owned by CLI, to manage its quality portfolio of resilient and green-certified lodging assets, further creating value for its investors. In February 2024, CLARA II has secured its first close with equity commitment by global institutional investors from Europe and Asia, and the fund will acquire two seed assets. The assets are a 50% stake in the 308-unit lyf Bugis Singapore[2] and a 100% stake in the 200-unit lyf Shibuya Tokyo in Japan from Ascott. The two freehold properties are strategically located within their respective city centres and are well-positioned to capture the strong demand from business and leisure travellers. Both properties are also set to be green-certified. lyf Bugis Singapore will be unveiled in mid-2024 while lyf Shibuya Tokyo will open in 4Q 2024.