About 40% of the fund's capital has been invested or committed. CPI representatives did not respond to request for information on the fund, such as its lifespan, its focus, the expected IRR for investors and the assets currently in the fund.
The man responsible for the fund is David Schaefer, head of the Asia-Pacific region for Citigroup Property Investors. Schaefer is a member of CPI's global investment committee, which oversees investment of the CPI opportunity funds in Asia, Europe and North America. He also is a director of Singapore listed Ascott Residence Trust Management Pte. Ltd., manager of the Ascott Residence REIT.
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