Singapore-based asset manager, Keppel Capital, has unveiled a property fund focused on Chinese logistics assets.
The fund, which is Keppel’s first play in the Chinese logistics market, is targetting an initial close at US$220 million with an option to double that total by the end of 2021.
The firm’s wholly-owned subsidiary, Keppel Capital China, will act as the fund’s investment manager.
Keppel Capital has enlisted an unnamed Chinese logistics operator and developer to manage the facilities acquired by the fund across three regions – Greater Beijing, Greater Shanghai and the Greater Bay Area.
The fund launch comes on the back of a rapid rise in demand for logistics facilities in China driven by the rise of domestic e-commerce, said Christina Tan, chief executive of Keppel Capital.
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