Forchn plans for second, bigger fund to shop for S-E Asian assets

Singapore

THE ink has barely dried since Forchn Holdings launched a US$150-million private equity fund last year to buy logistics real estate in South-east Asia but already the sponsor of EC World Reit has plans to launch a second, bigger fund.

The privately-held group, with diverse interests including real estate, manufacturing, e-commerce and logistics, had started raising the funds with local supply chain firm YCH Group to invest in warehouses in second- and third-tier cities in South-east Asia and China. Forchn told Bloomberg last September it was targeting a 20 per cent internal rate of return.