China-headquartered e-commerce group JD.com’s real estate services subsidiary, JD Property, has agreed to raise approximately $800m in series B funding from external investors, it revealed yesterday.
The round is being co-led by hedge fund manager Hillhouse Investment, private equity firm Warburg Pincus and an undisclosed institutional investor.
JD Property runs its parent’s infrastructure assets in addition to offering real estate services through an integrated service platform.
The company hiked its stake in warehouse operator China Logistics Property Holdings from 9% to 35% in September 2021 and plans to allocate the series B financing to strengthening its infrastructure property management.
The new funding comes after Warburg Pincus and Hillhouse co-led a $700m series A round for JD Property a year ago, with unnamed other investors also participating. JD.com will retain a majority stake in the spinoff following the latest transaction.
Image courtesy of JD.com.
