COLI, ICBCI and APG establish US$500 million Harmony China Real Estate Fund II, L.P.
Author:China Overseas Land and Investment Ltd.
Harmony China Real Estate Fund II, L.P. (“Harmony II”), with China Overseas Land & Investment Limited (“COLI”) and ICBC International Holdings Limited (“ICBCIH”) being the General Partners, is pleased to announce the successful establishment of Harmony II for the purpose of co-investing in new residential property development opportunities in the PRC.
The maximum size of Harmony II is set at US$500 million and the first close of US$230 million was successfully completed. The first close co-investors admitted as limited partners include COLI (committing US$40 million), ICBCIH (committing US$40 million) and APG (committing US$150 million). Harmony II is managed by COLI ICBCI China Investment Management (Cayman Islands) Limited through certain services provided by COLI ICBCI China Investment Management Limited.
Harmony II follows on the success of Harmony China Real Estate Fund, L.P. (“Harmony I”), which was formed in March 2010 and is now fully invested across three property development projects in Xi’an, Qingdao and Shenyang in the PRC. The anchor co-investors of Harmony I include COLI (contributing US$80 million), ICBCI (contributing US$80 million) and APG (contributing US$80 million).
Harmony II combines the development expertise of COLI with the financial management capabilities of ICBCI. In addition, APG contributes global institutional real estate investment experience and an extensive network to support the platform’s future growth.
Ends.
Enquiries
Paul Wang
(852) 2918 5138
paul_wang@cohl.com
Yunyi Yang
(852) 2918 5198
yunyi.yang@icbci.com.hk
About COLI ICBCI China Investment Management Limited
COLI ICBCI China Investment Management Limited is a joint venture investment advisory company set up by China Overseas Land & Investment Limited, ICBC International Investment Management Limited and All Winwin Holdings Limited, to provide advice to the fund management company of Harmony China Real Estate Fund, L.P. and Harmony China Real Estate Fund II, L.P. Both funds are exempted limited partnerships established for the purpose of investing in real estate investments and/or project development opportunities in the PRC with other co-investors.
About APG
APG provides asset management services for pension funds. By investing worldwide, APG is able to provide for collective pension schemes for participants in the Netherlands, from amongst others, the education sector, the government (civil servants), the construction sector and housing corporations and utilities companies. APG works for more than 30,000 employers and provides for the income of more than 4.5 million participants. APG manages over 30% of all collective pensions in the Netherlands. With assets under management of approximately €275 billion (as at 31 August 2011), APG is one of the world’s largest pension asset managers.
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