Fosun unit raises $960m China infrastructure fund
Xingjing Capital, an investment arm under Fosun Property, has raised a RMB6 billion ($960 million) infrastructure fund to invest in public private partnership (PPP) projects in China.
According to a statement, Xingjing Capital will target replacement housing projects and public facilities. It will focus on investing in tier one cities in China, as well as certain east coast and western areas.
China will open up 80 infrastructure projects for private capital, allowing financial investors to play a greater role in what remains a largely state-controlled sector, Premier Li Keqiang said while chairing a meeting of the State Council in April.
The government reiterated that private capital is encouraged to make PPP-type of investments in infrastructure projects, as part of efforts to drive urbanization in the country.
"The PPP investments come in a time when local governments are finding it difficult to get financing," said Xiaodong Wen, Xingjing Capital's founder partner.
Fosun Property is the property investment arm of Shanghai-based conglomerate Fosun Group.
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