
Hong Kong-based fund manager ESR Group has launched what it claims is its largest-ever RMB income fund in China.
The fund has been developed in partnership with an unnamed Chinese insurance company.
It will launch with an investment capacity of RMB10 billion (US$1.37 billion) and will be seeded with a logistics portfolio valued at $317 million.
ESR Group co-founder and CEO Jeffrey Shen said that the fund launch was a “milestone achievement” given the challenging macroeconomic environment.
He also stated that the fund launch was in line with the firm’s “asset-light strategy” designed to recycle capital and grow fund management fees.
©2023 funds global asia