APAC real asset manager ESR has partnered with a Chinese insurer to launch a local logistics project investment fund, boasting a substantial investment capacity of approximately RMB10bn (€1.3bn).

ESR said the fund, established with “one of China’s leading insurance companies”, will be seeded with a prime logistics portfolio of RMB2.3bn from ESR’s balance sheet.

The seed portfolio contains six assets located in major logistics and industrial hubs across different regions in China, including the Yangtze River Delta Region, the Greater Bay Area, and the Beijing-Tianjin-Hebei Region, the manager added.

Jeffrey Shen, ESR group’s co-founder and co-CEO, said the fund is ESR’s largest-ever RMB income fund in China.

“This milestone achievement testifies to the strong relationships and track record which ESR has built with domestic RMB investors, and the compelling long-term income potential of our portfolio of well-located and premium logistics assets in China.”

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