Abu Dhabi’s Mubadala Investment Company has invested in CBC Group’s APG-backed Chinese life science real estate investment platform.
CBC said its Healthcare Infrastructure Platform’s (HIP) China Life Science Real Assets Venture (CLSRA Venture I) has secured $875m in capital commitments at its second close, including an investment from the Abu Dhabi sovereign wealth investor.
In late 2021, Dutch pension investor APG made its first investment in Chinese life science real estate via a partnership with Asian healthcare-dedicated investment firm CBC. Back then, APG provided $400m seed capital for the CBC China life science venture, with CBC contributing $100m to the venture.
At the time, the two firms said the venture had a hard cap of $1.5bn of total equity commitments and will be dedicated to investing “in best-in-class facilities for life science research, manufacturing and support services catering to biotechnology incubators through to large multinational pharmaceutical companies in China”.
CBC HIP said CLSRA Venture I has committed and deployed $450m of the capital secured during the first close, across four real estate projects.
Fu Wei, CEO of Singapore-headquartered CBC Group, said: “We are very pleased to welcome Mubadala as an investor in CLSRA Venture I. The strong interest we have seen from leading institutional investors is a clear market validation of our strategy and endorsement of the sector’s opportunity for further growth.
“CBC Group has established a strong ecosystem for the creation of strategic value and synergies for life science clients across our CBC HIP platform.”
Matthias Neuling, head of Asia and DACH, real estate at Mubadala, said, “We have great confidence in the growth potential of China’s life science real assets sector, which benefits from strong market fundamentals, demographic trends, and government support.”
Hans Kang, CEO of CBC HIP, said: “Together with like-minded partners, we will continue to tap the immense potential of life science real assets as a critical component of China’s growing healthcare and life science industry, and empower life science companies to provide quality but affordable healthcare products and services for the largest aging population in the world.”
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