China's Shenzhen Capital Group to commit $162m to domestic shipping fund

Shenzhen Capital Group, an investment firm based in southern China’s Shenzhen City, has agreed to make a capital commitment of 1.05 billion yuan ($162.1 million) to Shenzhen Shipping Fund, a government-guided fund that invests in the maritime transport industry.

Shenzhen Shipping Fund, a tentative name that is subject to change, targets to raise a total of 3 billion yuan ($463.2 million) and is managed by Chinese equity investment and asset management firm Shenzhen Equator Fund Management, Shenzhen Capital Group disclosed on its website.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter