Temasek invests $250mn in Chinese logistics network

RRJ Capital, a fund owned by Singaporean sovereign wealth fund Temasek, announced it purchased a US$250 million stake in Shanghai Yupei Group, which owns and operates a nationwide logistics warehouse network in China, Bloomberg reported. Yupei said in a press release that the recent investment would complete all equity financing needs for the foreseeable future, aiding its plans to extend its warehouse network to 3.4 million square meters. The investment follows a US$200 million stake purchase by US private equity firms by Carlyle Group and Townsend Group. As of this month, RRJ manages two funds totaling US$5.9 billion.