HONG KONG, Aug 22 (Reuters) - Real asset manager ESR Group said on Tuesday it has set up a yuan income fund with a total investment capacity of 10 billion yuan ($1.37 billion), its largest to-date, with a leading insurance company in China.
The company did not disclose who the insurer is.
The fund will be seeded with a logistics portfolio from its balance sheet, ESR said, containing six stabilised assets located in major logistics and industrial hubs across China, and worth 2.3 billion yuan with a total gross floor area of over 350,000 square meters.
The company, the largest real asset manager in Asia Pacific with $150 billion in total assets under management, said the transaction is expected to be closed in the second half of this year, subject to regulatory approvals.
The yuan income fund is aimed at deepening relationships with domestic investors, it added in a statement. ($1 = 7.2854 Chinese yuan renminbi) (Reporting by Clare Jim; Editing by Muralikumar Anantharaman)
