(Yicai) Oct. 24 -- Chinese infrastructure developer DNE Group and global investment firm Bain Capital have set up a manufacturing park joint venture for new economy infrastructure, with a USD250 million equity commitment.

The JV will focus on developing and operating modern manufacturing parks in China’s main economic hubs, DNE announced today. Its seed assets are distributed across the country’s leading manufacturing hub, the Yangtze River Delta region, the Shanghai-based firm added.

After completion, the projects will yield high-quality modern manufacturing infrastructure for the region and form a synergistic effect with other industrial parks run by DNE, it noted. The Chinese firm will be the project manager and Bain Capital the strategic investor, it said.

“Bain Capital has a deliberate strategy of investing into the underlying infrastructure that supports economic growth,” said Kei Chua, a partner at the firm. “The establishment of this JV platform signifies a new chapter in the partnership we have developed with DNE since five years ago.”

Bain Capital, which has around USD180 billion of assets under management, has been promoting its investment in China’s new economy sector in recent years. In 2019, the Boston-based firm invested USD300 million in DNE unit D&J China to help accelerate the industrial park developer’s strategic growth and build a sizeable portfolio, DNE pointed out.

DNE was formed in late 2021 through the merger of D&J and New Ease China. It manages USD16 billion of assets and operates facilities covering over 14 million square meters, including logistics and cold chains, a modern manufacturing park, a life sciences park, and an urban redevelopment area, according to its website.

Editor: Martin Kadiev