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China Vanke's Beijing unit to invest 801.4M yuan in healthcare fund

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China Vanke's Beijing unit to invest 801.4M yuan in healthcare fund

China Vanke Co. Ltd. unit Beijing Vanke Co. Ltd. signed an investment partnership agreement with Citic Capital (Tianjin) Investment Management Partnership Enterprise LP to invest approximately 801.4 million yuan in a specialist healthcare fund.

The fund will be sized to the tune of 1.70 billion yuan, with a first-phase fundraising target set at roughly 802.4 million yuan, according to a release.

Vanke Hengqin, a China Vanke affiliate, will pump 1.0 million yuan into the fund, while Citic Capital will contribute 10,000 yuan.

The fund will invest in medical pensions, medical technology and in the healthcare consultation field.

As of July 5, US$1 was equivalent to 6.64 yuan.