Global alternative asset manager The Carlyle Group and investment management services provider The Townsend Group have announced a partnership with China-based warehouse developer Shanghai Yupei Group to invest in 17 warehouses in China. The Carlyle Group, structured through Carlyle Asia Real Estate, and The Townsend Group will commit approximately US$200 million to acquire equity interests in five warehouses owned by Shanghai Yupei Group, and to build 12 new warehouses in the next two years. Shanghai Yupei Group will also commit US$200 million to the partnership. The investors intend to own and operate a nationwide logistics warehouse network with more than 1.8 million square meters of floor area.