The Carlyle Group & The Townsend Group to Invest US$200 Million in Strategic Partnership with Shanghai Yupei Group to Develop...
August 29 2013 - 5:00AM
Business Wire
Global alternative asset manager The Carlyle Group (NASDAQ:CG)
and The Townsend Group today announced a strategic partnership with
Shanghai Yupei Group, one of the largest logistics warehouse
developers in China, to invest in 17 modern warehouses in China.
Carlyle and Townsend will commit approximately US$200 million to
acquire equity interests in five warehouses owned by Shanghai Yupei
Group and to build 12 new warehouses in the next two years.
Shanghai Yupei Group will also invest US$200 million, bringing the
total equity commitment of the strategic partnership to US$400
million.
The 17 warehouses will be located in major logistics hubs across
China, including the first-tier cities of Shanghai, Beijing, and
Guangzhou, and select second-tier cities such as Shenyang, Tianjin,
Chongqing, Zhengzhou and Hefei. Upon completion of its investment
plan, the strategic platform expects to own and operate a
nationwide logistics warehouse network with more than 1.8 million
square meters of gross floor area to serve a diverse range of
tenants.
Jason Lee, Managing Director and Head of Carlyle Asia Real
Estate, said, “Modern logistics is a nascent but fast growing
industry in China, supported by strong growth in domestic
consumption, exponential expansion of e-commerce and favorable
government policies.”
"We are attracted to the logistics warehouse sector in China by
its favorable demand and supply fundamentals, and we are excited to
work with Shanghai Yupei Group, one of the most experienced and
highly regarded domestic logistics warehouse developers in China,
to build a nationwide network of high quality warehouses.”
Nicholas Wong, Principal of The Townsend Group said, “Townsend
views the growth of modern logistics to be a compelling secular
investment theme in China, and around the globe. We are pleased to
partner with The Carlyle Group and Shanghai Yupei Group, an
experienced logistics developer and operator, to bring this unique
investment opportunity to our clients.”
Shifa Li, Chairman of Shanghai Yupei Group, added, “The
investment by Carlyle Asia Real Estate is a strong vote of
confidence in our business model and execution capabilities. We
have a strong pipeline of development projects in major logistics
hubs in China. The capital injection will allow us to further speed
up land acquisitions and construction, and to quickly expand our
geographical coverage to better serve our tenants.”
Carlyle’s share of the equity will come from Carlyle Asia Real
Estate (CARE), which invests in value-add opportunities across all
real estate sectors in Asia, as well as in core assets on behalf of
separate accounts. With local teams based in Hong Kong, Shanghai,
Singapore and Tokyo, CARE has committed an aggregate US$2.2 billion
of equity in Asia. In China, CARE has made 15 investments with an
expected total capitalization of US$3.1 billion.
About Shanghai Yupei Group
Founded in 2002 and headquartered in Shanghai, Shanghai Yupei
Group is one of the largest domestic modern logistics warehouse
developers and operators in China. Its business operations cover
design, development, leasing and management of modern logistics
warehouses, with an expanding tenant base from manufacturing,
retail and logistics service sectors. Since its inception, Shanghai
Yupei Group has developed 10 warehouses with total gross floor area
of more than 700,000 square meters.
Company Web: www.yupeigroup.com
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset
manager with $180 billion of assets under management across 118
funds and 81 fund of funds vehicles as of June 30, 2013. Carlyle's
purpose is to invest wisely and create value on behalf of its
investors, many of whom are public pensions. Carlyle invests across
four segments – Corporate Private Equity, Real Assets, Global
Market Strategies and Global Solutions – in Africa, Asia,
Australia, Europe, the Middle East, North America and South
America. Carlyle has expertise in various industries, including:
aerospace, defense & government services, consumer &
retail, energy, financial services, healthcare, industrial,
technology & business services, telecommunications & media
and transportation. The Carlyle Group employs more than 1,400
people in 34 offices across six continents.
Web: www.carlyle.comVideos: www.youtube.com/onecarlyleTweets:
www.twitter.com/onecarlylePodcasts:
www.carlyle.com/about-carlyle/market-commentary
About The Townsend Group
Founded in 1983, The Townsend Group is a premier provider of
global investment management and advisory services focused
exclusively on real estate and real assets. Committed to excellence
in investment management and client service, Townsend serves an
institutional client base providing custom investment solutions to
help meet the needs and objectives of their investment programs.
Headquartered in Cleveland, Ohio, the firm has offices in San
Francisco, London and Hong Kong. As of March 31, 2013, Townsend
provided advice services to clients who have real estate/real asset
allocations of approximately $140 billion (“assets under
advisement”) and had assets under management of approximately
$ 10.8 billion.
For additional information, please visit the Company website at
www.townsendgroup.com
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