CITIC Capital, a China-based alternative investment management and advisory firm, has held a final close of US$683 million on its China Retail Properties Investment Fund, exceeding the original target of US$600 million. Since the first closing in late 2011, the fund has invested US$250 million into three projects located in Hunan province, Anhui province and Shanghai. This is CITIC Capital’s fourth China-focused real estate fund.