Blackstone expands China logistics footprint with $1.1 bln investment

Investment for 70% stake in a Guangzhou logistics park, which houses tenants such as SF Express and Alibaba’s Tmall, expands Blackstone’s China presence to 23 cities.
Guangzhou city skyline at dusk
Guangzhou city skyline at dusk

Major alternative investments manager Blackstone is bolstering its presence in China with a $1.1 billion investment for a 70% stake in a Greater Bay Area urban logistics park.

The investment will help Blackstone acquire majority ownership in the 1.2 million-square meter logistics park located in Guangzhou, expanding the firm’s logistics portfolio in the country by a third, Blackstone said in a statement Tuesday. The park, located some 15 kilometers from the city’s international airport, houses tenants including third-party logistics providers such as SF Express and YTO Express, and e-commerce players such as Alibaba Group Holding-controlled Tmall, and JD.com.

Blackstone acquired the stake from property developer R...

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