(Adds more details on the transaction from paragraphs 2 onwards)

Nov 20 (Reuters) - Singapore's CapitaLand Investment said on Wednesday it would acquire a 40% stake in SC Capital Partners Group (SCCP) for S$280 million ($209.31 million), while also invest a minimum of S$524 million in the company.

CapitaLand's 40% stake acquisition in SCCP, a Singapore-based real estate investment manager, will increase its funds under management (FUM) by S$11 billion. The transaction will boost CapitaLand's presence in its focus market, Japan, where 76% of the S$11 billion FUM are located, the company said.

According to the company's statement, the deal will place CapitaLand as a strong real asset manager in the Asia Pacific region, with a combined FUM of S$113 billion.

CapitaLand will fund its initial investment of the 40% stake through cash, with the deal expected to close in the first quarter of 2025.

It will acquire the remaining 60% stake in SCCP in phases over the next five years, it said. SCCP will continue to operate independently until CapitaLand completes its acquisition.

($1 = 1.3377 Singapore dollars) (Reporting by Sherin Sunny in Bengaluru; Editing by Shilpi Majumdar and Alan Barona)