Bain Capital Credit invests $300m in D&J China
Bain Capital Credit has invested $300 million in D&J China, a Shanghai-based business and technology development park developer pursuing a domestic expansion.
The commitment will be used to grow the company’s footprint in tier-one cities, according to a statement. Most operations are currently in Beijing, Shanghai, and Shenzhen.
D&J was seeded in 2014 by Warburg Pincus, which went on to back a number of growth rounds. This includes a $180 million Series D round in late 2017 and a $220 million investment the prior year.
D&J develops and operates built-to-suit business parks and other corporate and industrial facilities, including data centers. It primarily works in new-economy industries, with tenants including Broadcom, Sartorius, WeWork, and Johnson & Johnson.
Earlier this month, the company helped launch Johnson & Johnson’s first biotechnology incubator in Asia Pacific. The facility, known as JLABS, in Shanghai Zhangjiang Hi-tech Park will provide laboratory and networking space for about 50 life science and healthcare start-ups.
In late 2016, D&J launched a $1.5 billion China infrastructure fund alongside AVIC Trust. The hybrid US dollar and renminbi vehicle is hoped to leverage strong demand within China for dedicated R&D facilities, suburban office spaces and manufacturing bases from IT, internet and healthcare companies.
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