China Life forms partnership for REIT investments

China Life Insurance (HKEX: 2628) announced the formation of a new partnership to invest in Infrastructure Public REITs. The company will contribute RMB3.5 billion to the partnership, with the total capital commitment reaching RMB5.237 billion. China Life Capital will manage the partnership, focusing on strategic placements in initial public offerings and acquisitions of tradable units. The investments will target REITs in regions like Beijing-Tianjin-Hebei, the Yangtze River Delta, and the Guangdong-Hong Kong-Macao Greater Bay Area. The partnership has a ten-year term, with investment restrictions to limit exposure to individual REITs. The deal qualifies as a connected transaction under HKEX rules due to China Life's relationship with other partners.