HONG KONG--(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.com
Videos:
www.youtube.com/onecarlyle
Tweets:
www.twitter.com/onecarlyle
Podcasts:
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
Shanghai Yupei Group
Media:
Limin Sun,
+86-21-66277677
lsun@yupeigroup.com
or
The
Carlyle Group
Media:
Tammy Li, +852-2878-5236
tammy.li@carlyle.com
or
Brian
Zhou, +86-10-57067070
brian.zhou@carlyle.com
or
The
Townsend Group
Media:
John V. Hackett,
+1-216-781-9090
jhackett@townsendgroup.com
Source: The Carlyle Group
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