BlackRock Real Assets is investing in a portfolio of cold storage facilities in China on behalf of the funds that it manages.

The assets, consisting of 15 cold chain infrastructure facilities with a total investment of over RMB6bn (鈧�769m), are held in the Metcold Opportunity Funds I and II funds. 

The agreement with BlackRock Real Assets will provide support for development of Metcold Opportunity Funds I and II.

Metcold said five of its facilities in various Chinese cities were now in operation. The company expects two more facilities to begin operations in the second quarter of this year.

鈥淪erge Lauper, BlackRock鈥檚 global head of infrastructure solutions, said the investment represented an opportunity to participate in what he called 鈥渁 uniquely attractive and resilient theme鈥� tied to the modernisation of China鈥檚 food logistics chain, improved food safety and reduced food wastage.

Michael Dennis, BlackRock鈥檚 head of alternatives strategy and capital markets in Asia-Pacific, said: 鈥淭his investment adds to the continued growth of BlackRock鈥檚 alternatives footprint in the region, capitalising sound private market opportunities through our proprietary local sourcing network.鈥�

鈥淲e are very grateful for the recognition from BlackRock,鈥� said Metcold CEO Henry Ha.鈥淲ith the support of this top institutional investor, Metcold will continue to improve food safety and quality for China鈥檚 consumers by delivering world-class cold chain infrastructure facilities.鈥�

In 2018, Macquarie Infrastructure and Real Assets became a major investor and shareholder of Metcold鈥檚 platform.

To read the digital edition of the latest IPE Real Assets magazine click here.

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