Greater China

Cosco sets up private investment fund with Hebei Port Group

China Cosco Shipping and Hebei Port Group have set up a private fund called Yuanhai Mingsheng FOF to jointly explore investment opportunities in the financial markets.

The fund will raise RMB1.5bn ($238m) for the first phase and the total scale of the fund is RMB5bn, which will be used to invest in equities of non-public companies in various sectors including manufacturing, financial, and emerging technologies.

Qingdao Port Group has also agreed to invest in the fund.

Cosco has been making efforts to expand its presence on the financial markets as part of its transformation strategy. In January, Cosco also set up a shipping fund with state-controlled China Cinda Asset Management.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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