Pan-Asian logistics group Logos and its global partner CBRE Global Investors have launched a RMB5.5bn (€704m) logistics investment vehicle in China.
The partners said the CBRE LOGOS China Logistics Club Fund, which was now closed to further investment, would pursue logistics development projects and invest in existing assets in first and second-tier Chinese cities.
Logos and CBRE GI have secured equity commitments from eight capital partners from Mainland China as well as offshore jurisdictions.
CBRE GI first invested with Logos in China in 2015 when it joined Ivanhoe Cambridge and Logos to set up the Logos China Logistics Club.
The new fund is the fourth vehicle in China for Logos and the third for CBRE GI, which is invested in two earlier Logos China funds.
However, unlike the previous two funds, CBRE GI assumes the role of the general partner, who is responsible for fund and investment management for CBRE Logos China Logistics Club Fund.
Logos is responsible for acquisition management, development, leasing and asset management for the latest fund.