Hong Kong Property Manager ESR Launches $1.3 Billion RMB Income Fund

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ESR is the largest real asset manager in the Asia-Pacific region with approximately $150 billion in total assets under management. Photo: VCG

(DealStreetAsia) — ESR Group Ltd., Asia-Pacific’s largest real asset manager, has established a 10-billion-yuan ($1.3 billion) RMB income fund, its largest to date, in partnership with a leading insurance company in China, according to a company release.

The fund will be seeded with a prime logistics portfolio of 2.3 billion yuan (a total gross floor area over 350,000 square meters) from ESR’s balance sheet, and the transaction is expected to be closed in the second half of this year, subject to regulatory approvals, the release said.