Warehouse firm Yupei attracts investment from RRJ, Temasek’s SeaTown-Reuters

(Reuters) – Shanghai Yupei Group said private equity firm RRJ Capital and SeaTown, a unit of Singapore state investor Temasek Holdings, have agreed to invest $250 million in the Chinese logistics company.

The capital raising plus the $200 million it raised last year from U.S. private equity firms The Carlyle Group and The Townsend Group, completes Yupei’s equity financing needs for the foreseeable future, the company said in a statement late on Thursday.

Yupei, one of the largest privately owned logistics warehouse companies in China, plans to speed up its 2017 plans to own and operate a nationwide network with more than 3.4 million square meters (37 million square feet) of net leasable area, it said.