CBC, APG launch China healthcare infra fund

The fund, CBC China Life Science Infrastructure Venture, has reached a first close of $500 million. It will provide best-in-class life science research, manufacturing, and support services for biotechnology incubators through to large multinational pharmaceutical companies.

This is part of a broader, Asia-wide initiative known as CBC Healthcare Infrastructure Platform (CBC HIP), which will develop research and manufacturing facilities, hospitals, medical offices, and senior living accommodation.

The fund has already secured nearly one million square meters of land in Shanghai, with further opportunities identified in Beijing. These are two of nine life sciences clusters identified in nine cities in China, alongside Guangzhou, Shenzhen, Suzhou, Hangzhou, Nanjing, Wuhan, and Chengdu.

Hans Kang, CEO of CBC HIP, noted that China is the most in-demand life science market globally and represents a multi-billion-dollar market opportunity. “It is critical that scientists and researchers are provided with world-class facilities to explore potential biotech and pharmaceutical breakthroughs that are needed today more than ever," he said in a statement.

Established in 2014, CBC is headquartered in Singapore and operates through a network of offices spanning Shanghai, Beijing, Hong Kong, Tokyo, and the US. It focuses on platform-building, buyout, credit, and growth-focused opportunities across pharmaceutical and biotech, medical technology, and healthcare services.

The firm closed its third healthcare fund on $850 million in 2019 and is currently in the market with the latest vintage. A $300 million credit fund was introduced in 2020.

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• Topics
• Greater China
• Infrastructure
• Infrastructure
• Real estate
• Healthcare
• Fundraising
• China
• Asia
• CBC Group
• APG