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Temasek SWE and RRJ Capital Invest $250 Million in Chinese Warehouse Business

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A Singapore sovereign wealth fund is betting on a Chinese logistics facilities company following a platform investment from a major U.S. private equity investor. Overseas institutional money views modern logistics in China as a viable investment theme due to growth in mainland China e-commerce and middle class income. Temasek Holdings, through SeaTown Holdings International, and RRJ Capital Ltd., managed by Charles Ong and Richard Ong, are investing US$ 250 million in Shanghai Yupei Group Co. Founded in 2000, Shanghai-based Yupei is one of the biggest privately owned logistics warehouse developers in China.

The deal follows a US$ 200 million investment from The Townsend Group and The Carlyle Group back in August. Townsend and Carlyle, through its vehicle Carlyle Asia Real Estate, committed capital to purchase equity interests in 5 warehouses owned by Yupei and 12 new warehouses in development. The planned warehouses are being built in cities such as Shanghai, Beijing, Guangzhou, Shenyang, Tianjin and Hefei.

“China is an attractive logistics market, with strong fundamental demand and a limited supply of modern logistics facilities. As a leading player in the industry, we believe Yupei is well-positioned to capitalize on this rapidly growing market,” said Jimmy Phoon, CEO of SeaTown Holdings International in a press release.

SeaTown Holdings International was created in 2009 by Temasek Holdings. Charles Ong was the former CEO of SeaTown Holdings.

HKMA and TRS Participates in Investment in Kakao Mobility

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Private equity firm TPG led a group of investors to acquire a minority ownership stake in Kakao Mobility Corporation, a South Korean taxi hailing service provider. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Meraas Holding Names Former KIO Executive as CEO

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Osama Al-Ayoub, the former CEO and President of the Kuwait Investment Office (KIO), was hired by property firm Meraas Holding to be its chief executive officer. KIO is a London-based unit of the Kuwait Investment Authority (KIA). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mumtalakat Contemplates Investing in SoftBank Vision Fund

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Bahrain-based Mumtalakat Holdings is interested in joining a chorus of sovereign funds committing capital to Japan-based SoftBank Group’s Vision Fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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