Real estate investment manager Jaguar Growth Partners has marked its entry into China with the acquisition of a logistics property firm and the launched of its inaugural fund dedicated to real estate opportunities in Asia.
The New York-headquartered firm, in partnership with JHJ Logistics, has paid an undisclosed sum to buy Brilliant Shanghai Enterprise Management Consulting.
The principals of JHJ will assume leadership roles in Brilliant. Tony Li, who previously held executive roles at Goodman Group and Everbright Ashmore, will also join the Brilliant leadership team as COO.
Founded in October 2016 in Shangha, Brilliant has 1m sqm of gross floor area under construction and over 1m sqm in the pipeline.
Gary Garrabrant, CEO of Jaguar, said: “We are excited about Jaguar’s prospects in Asia, drawing from our history and relationships in the region.
“We believe Brilliant is a differentiated logistics property company, ideally positioned to capitalise on the significant unmet tenant demand in China’s first and second-tier cities.”
Jaguar currently manages two funds focused on Latin America.
Jason Lee, JHJ Logistics founder, said: “The acquisition of Brilliant continues our successful track record of investing in the Chinese logistics sector, where we have developed and managed 2.8m square meters across 26 projects since 2013.
“We are thrilled to join forces with Jaguar as we significantly accelerate the growth of Brilliant.”