HONG KONG, April 10, 1014 /PRNewswire/ -- Shanghai Yupei Group ("Yupei"), one of the largest privately owned logistics warehouse developers in China, announced today that RRJ Capital ("RRJ") and an investment company managed by SeaTown Holdings International ("SeaTown") have agreed to invest US$250 million in Yupei. This round of capital raising, together with the US$200 million financing raised last year from The Carlyle Group ("Carlyle") and The Townsend Group ("Townsend"), completes Yupei's equity financing needs for the foreseeable future based on its enhanced national expansion plans.
In this regard, Yupei seeks to further increase the footprint and expand the nationwide rollout of its portfolio of institutional-quality warehouses as well as the provision of logistics services from prime locations across China to serve its fast-growing customer base. Yupei has been experiencing significant growth opportunities in the logistics sector in China and has accordingly expedited its 2017 plans to own and operate a nationwide logistics warehouse network with more than 3.4 million square meters of net leasable area.
Mr. Charles Ong, Co-Chairman and Co-CEO of RRJ Capital, said, "We are pleased to partner with Yupei in developing its exciting future in the modern logistics sector in China. We are confident Yupei's experienced and professional management team is able to execute further nationwide expansion of its quality warehouses and logistics services to its growing customer base."
"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.
Shifa Li, Chairman of Yupei, added, "We are excited to welcome RRJ and SeaTown as new financial partners in Yupei. This latest investment is a strong vote of confidence in our business model and execution capabilities. We will focus on enhancing our leading position in the Chinese logistics sector and the investment will allow us to further accelerate land acquisitions and construction projects to better serve our customers."
