China-based courier service operator SF Holdings and investment management firm Citic Capital have launched a RMB2bn ($308m) fund, DealStreetAsia reported yesterday.
SF Holding provided $77m through its Patriot Success and Abundant Harvest units, while Citic Capital supplied $15m through a subsidiary called Infinite Benefits. Singaporean sovereign wealth fund GIC committed $216m through its Reco Aquamarine Private unit.
The CC SF China Logistics Properties Investment Fund will focus on the logistic sector in China.
SF Holdings and Citic Capital had originally planned on launching the fund in February this year with a $400m target, according to the report, though it did not confirm reasons for the delay.
SF Holdings is the parent company of SF Express, a domestic and international delivery services and logistics provider. The company’s offering includes warehousing, sales forcasting and settlement management.
The corporate first partnered Citic Capital in 2013, when the latter joined forces with China Merchants Capital, Oriza Holdings and Jade Capital to make a $1.5bn strategic investment.
