China's Suning, govt-led Shenzhen Capital close second logistics fund

Existing Suning.com Plaza in Nanjing, China. Source: Suning.com

A real estate fund management subsidiary of Chinese government-led Shenzhen Capital Group has joined hands with Suning Logistics, the logistics arm of electronics retailer Suning Holdings Group, to set up a billion-yuan fund for equity investments in the logistics real estate industry.

Shenzhen Capital Group did not disclose the specific size of the new fund in a statement released on its WeChat official account last Friday, but the two companies initially targeted to collect no more than 2.6 billion yuan ($370 million), according to a document Suning filed with the Shenzhen stock exchange on November 19.

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