By Selena Li
HONG KONG (Reuters) – Goldman Sachs has launched a joint venture in China with local logistics firm Sunjade to boost investment in Chinese logistics and infrastructure property assets, the U.S. bank said on Monday.
The bank is forming the new unit through its investment arm Goldman Sachs Asset Management, which has invested more than $50 billion globally in real estate ventures, according to a company statement.
He did not disclose the platform’s shareholding structure or capital commitment.
The joint venture, which focuses on projects located in China’s tier-one cities and surrounding areas, has invested in a 240,000 square meter project with four institutional-grade warehouses located in Shanghai and the surrounding area.
The U.S. bank said the new hub will benefit from China’s growing demand for new, high-quality infrastructure assets, particularly institutional-grade warehousing space driven by e-commerce and diversification of needs. industries supported by government policies.
(Reporting by Selena Li; Editing by Kirsten Donovan)