Tesco Lotus Retail Growth Freehold and Leasehold Property Fund ("TLGF") was established with the objective of investing in a geographically diversified portfolio of retail-focused real estate located in Thailand.
TLGF, listed on the Stock Exchange of Thailand on 19 March 2012, was Thailand's largest ever property fund IPO, raising a total of THB 18,408 million (approximately USD 600 million). TLGF initially invested in 17 high-quality Tesco Lotus hypermarket-anchored shopping malls in prime locations across Thailand, including Bangkok, upcountry and tourist destinations.
Following the successful IPO and strong performance of the fund, TLGF had raised additional funds of THB 7,544,862,942 in November 2012. The proceeds were used to invest in additional five high-quality Tesco Lotus shopping malls.
In January 2014, TLGF acquired its 23rd assets, which is Tesco Lotus Navanakorn.
The property fund is managed by Krung Thai Asset Management Plc. As Thailand's leading shopping mall operator, Tesco Lotus acts as the Property Manager for the fund.
Tesco Lotus is also the single largest unitholder of TLGF.