Red Star Macalline officially announced in Shanghai on August 29 together with GoHigh Fund, a famous commercial real estate fund management institution in China, that they would jointly set up the first home furnishing and commercial real estate buyout fund in China as the co-GP (general partner, i.e., the manager), with the fund scale of RMB 5 billion (subject to enlargement at any time as needed) and the main asset subject matter in the early stage being the commissioned malls of Red Star Macalline in first-tier and second-tier cities.

Che Jianxin, Chairman of Red Star Macalline, introduced that "Red Star Macalline is responsible for looking for quality commissioned malls, and also for the operation and management, while GoHigh Fund is responsible for structure building, fund raising, assets management and withdrawal mechanism design, etc. of the fund, etc. "

Both parties, as the co-GP, will make investment decisions together, and separately contribute 10-15% of the initial fund, with the remaining raised externally and by asset securitization. Red Star Macalline will also purchase some posterior products in the future.

(Source: JJGLE.com)