CBC Healthcare Infrastructure Platform secures US$875 million in investment
Sharon See
CBC Healthcare Infrastructure Platform (CBC HIP) said on Saturday (Oct 21) it has secured US$875 million in total following the second close of its first life science real assets venture.
With this, Mubadala Investment Company – a sovereign investor based in Abu Dhabi – will now join APG Asset Management and CBC Group as existing investors of the independent life science real assets platform in China.
“We are very pleased to welcome Mubadala as an investor,” said Fu Wei, chief executive of the Singapore-headquartered CBC Group. “The strong interest we have seen from leading institutional investors is a clear market validation of our strategy, and endorsement of the sector’s opportunity for further growth.”
Matthias Neuling, head of Asia, Germany, Austria and Switzerland real estate at Mubadala, said China’s life science real assets sector benefits from strong market fundamentals, demographic trends, and government support.
CBC HIP’s first life science real assets venture has so far committed and deployed US$450 million – or 90 per cent of the capital secured during the first close – across four real estate projects, the company said in a statement.
It has acquired approximately 520,000 square metres (sq m) of life science real assets in Shanghai, Beijing, and Suzhou – the top three life science cities in China – with steady risk-adjusted returns for long-term institutional investors, the company added.
“Together with like-minded partners, we will continue to tap the immense potential of life science real assets as a critical component of China’s growing healthcare and life science industry, and empower life science companies to provide quality but affordable healthcare products and services for the largest ageing population in the world.” said Hans Kang, CEO of CBC HIP.
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