CCP Crafts Management, Development Role

CCP Crafts Management, Development Role

Asia

Cyrela Commercial Properties (CCP) has crafted a new kind of role for itself in the $400m JV pool it has set up alongside Singapore’s GIC and Canada’s CPPIB, say people eyeing the deal. While the vehicle has a performance fee similar to what some real estate and private equity funds have, the agreement is understood to reward CCP, the general partner (GP) of the fund, much more based on its work as a developer rather than as a manager of a portfolio, says a person with knowledge of the

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