Ping An, Blumberg line up $600m US realty fund

Ping An Insurance (Group) Company of China Ltd, the country's second-largest insurer, has formed a $600 million fund with Blumberg Investment Partners to make real estate investments in the United States.

The two companies plan to invest in long-term, high-quality US leasing assets. Most of these investments will be in New York City, the metropolitan New York area, central area of the Atlantic coast, northwest of the Pacific coast, Florida, Atlanta, and Colorado.

Headquartered in Denver, Colorado, Blumberg, a property fund, has investments in real estate, energy and resources and other sectors.