BEIJING-Locally based Harvest Fund Management,China’s second largest fund manager at approximately $37 billion inassets under management, is launching a joint venture withGrosvenor Fund Management. The newly launchedHarvest Real Estate Investments is intended tohelp both domestic and international investors locate real estateopportunities across the major sectors within Greater China.
In a statement, Harvest Group CEO Henry Zhaosays the new venture is “an integral part of the Harvest Group’scontinued expansion into the alternatives sector and global capitalmarkets.” HFM will invest into the business through its alternativeinvestments arm, Harvest Alternative Investment Group. GFM is theasset management arm of UK-based Grosvenor, and has been active inAsia for the past 20 years.
Leading the new venture will be Rong Ren,formerly managing director and CEO of Harvest Capital, no relationto HFM. He’ll lead a team of 20 professionals based in HFM’s HongKong and Beijing offices. In addition, professionals from both GFMand HFM will also join the dedicated real estate platform,according to a release.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
