Real Estate

Goldman Sachs Reportedly Launches China JV

Editorial Staff 25 October 2022

Goldman Sachs Reportedly Launches China JV

The JV is reportedly focused on areas such as infrastructure and property.

Goldman Sachs has reportedly launched a joint venture in China with local logistics company Sunjade.

The move is an attempt to boost investment in Chinese logistics, infrastructure and real estate assets, the US firm has been quoted as saying (source: Reuters, 24 October). WealthBriefingAsia has contacted Goldman Sachs for comment and may update in due course.

The bank is forming the new unit via its investment arm Goldman Sachs Asset Management, which has invested more than $50 billion globally in real estate businesses. It did not disclose the shareholding structure or capital commitment to the platform.

The report comes at a time when investors’ eyes have been focused on China because of the reinstatement of Chinese leader Xi Jinping. He is considered likely to ease some of the regulatory crackdowns on certain Chinese sectors, and also to help the debt-laden real estate sector in the country.

A Reuters report said that the JV, which focuses on projects located in China's first-tier cities and surrounding areas, has invested in a 240,000-square-meter project with four institutional-grade warehouse assets located in Shanghai and its neighbouring area.

This news service understands the China move is more of a co-investment process than a traditional JV, as usually understood.

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