Hong Kong/Shanghai, October 24, 2023 – Bain Capital and DNE Group (“DNE”) announced today establishment of a manufacturing park joint venture for new economy infrastructure (“JV Platform”) with a total equity commitment of US$250 million. The JV Platform will focus on the development and operation of modern manufacturing parks in China’s core economic hubs.

The seed assets of the JV Platform are distributed across China’s leading manufacturing hub, the Yangtze River Delta. After completion, the projects will yield high-quality modern manufacturing infrastructure for the region and form a synergistic effect with other industrial parks operated by DNE. Together, they will help promote the aggregation of modern manufacturing companies and contribute to the integrated development of the Yangtze River Delta. DNE serves as the project manager for the collaborative platform, while Bain Capital acts as the strategic investor.

As China being one of the most dynamic regions in Asia, Bain Capital continues to be interested in the business potential of China’s new economy sector, particularly in advanced manufacturing clusters such as the Yangtze River Delta, the Beijing-Tianjin-Hebei region, and the Guangdong-Hong Kong-Macau Greater Bay Area. In 2019, Bain Capital invested US$300 million in DNE’s wholly-owned subsidiary D&J China, a leading Chinese developer and operator of modern manufacturing parks, to help accelerate D&J China’s strategic growth and build a sizeable portfolio.

Leveraging on its strength in industrial park investment and operation, DNE listed one of the first workshop REITs in China – DNE REIT on Shanghai Stock Exchange in 2022. The latest joint venture between Bain Capital and DNE is a continuation of the two parties’ cooperation, and to help support the upgrade of China’s manufacturing industry.

“Bain Capital has a deliberate strategy of investing into the underlying infrastructure that supports economic growth. The establishment of this joint venture platform signifies a new chapter in the partnership we have developed with DNE since five years ago,” said Kei Chua, Partner at Bain Capital. “We look forward to leveraging each other’s strengths and resources to meet the growing demand of advanced manufacturing and life sciences companies for a new generation of high-quality, high-value industrial parks.”

“DNE is pleased to once again partner with Bain Capital. This partnership is a remarkable endorsement of our investment strategies, the quality and value of our property assets, and our outstanding asset management and fund management capabilities. We will continue to serve as a bridge between international institutional investors and the Chinese market, expand our capabilities in the development and operation of modern manufacturing infrastructure, and support the vigorous growth of China’s new economy,” said Dongping Sun, Chairman and Chief Executive Officer of DNE.

About Bain Capital
Bain Capital is one of the world’s leading private investment firms with approximately $180 billion in assets under management that creates lasting impact for our investors, teams, businesses and the communities in which we live. Founded in 1984, we pioneered a consulting-based approach to private equity investing, partnering closely with management teams to offer the insights that challenge conventional thinking, build great businesses and improve operations. Over time, we have organically expanded this approach across asset classes to build one of the strongest alternative asset platforms in the world.

Today, our teams strive to create value through private equity, public equity, fixed income, credit, venture capital and real estate investments across multiple sectors, industries, and geographies. We believe that our people and the shared values we’ve espoused since our founding remain the core of our competitive advantage. This has empowered us to deliver an enduring impact to a diverse group of investors including pensions, endowments, foundations and individuals.

About DNE
DNE is a leading new economy infrastructure investor, developer and operator in China with over $16 billion in AUM and GFA over 14 million square meters across multiple verticals, including logistics and cold chains, modern manufacturing park, life sciences park, and urban redevelopment. DNE also runs DNE Capital, a private equity investment platform focusing on new economy industry investment. DNE provides a full range of integrated infrastructure solutions to new economy clients, meeting their needs in R&D, manufacturing, warehousing and corporate headquarters. With a seasoned management team, DNE provides comprehensive capabilities spanning from acquisition, development and construction to asset and fund management. DNE aspires to deliver sustainable long-term value to its new economy clients, capital partners and stakeholders.

Media Contact

Bain Capital
BainCapital@trailrunnerint.com

DNE
Christy Zhang
christy.zhang@dnegroup.com