Sino-Ocean Capital holds first close for Chinese logistics fund

Sino-Ocean Capital, an alternative asset management unit of Chinese, real estate–focused, investment holding firm Sino-Ocean Group, has reached the first closing of a new fund, raising RMB1.6 billion ($232.51 million).

The new fund will be investing in the growing demand for modern logistics amid the continuing rise of ­e-commerce.

The fund has a $730 million fundraising target with a $440 million minimum, reported South China Morning Post.

China’s 230 trillion yuan ($35.76 trillion) logistics industry is booming, led by the distribution needs of giants like Alibaba and JD.com, who are increasing the demand for storage and delivery.

E-commerce is playing a major role for the industrial real estate investors, creating a wide range of opportunities for real estate investors, drawing a surge of investment from real estate funds and e-commerce companies in recent years.

The expanding middle class is helping reorient the country from an ex