Bain Capital and the Warburg Pincus-backed Chinese logistics company, DNE Group, have established a US$250m (€234m) joint venture to build and operate manufacturing parks in China’s core economic hubs.

DNE serves as project manager for the collaborative platform, while US investment firm Bain Capital acts as the strategic investor.

Seed assets of the joint venture platform are distributed across China’s manufacturing hub, the Yangtze River Delta.

Kei Chua, partner at Bain Capital said the joint venture platform signified a new chapter in a partnership the US investor had developed with DNE five years ago.

In 2019, Bain Capital invested US$300m in DNE’s subsidiary, D&J China, to help accelerate D&J China’s strategic growth and build a sizeable portfolio.

Chua said: “We look forward to leveraging each other’s strengths and resources to meet the growing demand of advanced manufacturing and life sciences companies for a new generation of high-quality, high-value industrial parks.”

Dongping Sun, chairman and CEO of DNE, said: “We will continue to serve as a bridge between international institutional investors and the Chinese market, expand our capabilities in the development and operation of modern manufacturing infrastructure, and support the vigorous growth of China’s new economy.”

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