GLP has closed its GLP China Income Fund I (GLP CIF I) with a total investment capacity of RMB 15 billion (approximately US$2.1 billion) assets under management.
GLP said GLP CIF I is fully-seeded with 34 stabilized, income-producing assets in 18 cities across China, which remains the largest consumption opportunity in the world, with an advanced and rapidly-growing e-commerce market.
“Despite the current environment, we received significant interest from institutional investors to participate in GLP CIF I. We believe it is a testament to GLP’s high-quality, modern logistics assets and our fund management and operational capabilities, which allow us to drive value through all phases of the asset life cycle. Investor demand for China logistics real estate is exceptionally strong and we are pleased to provide our institutional investor partners access to this market opportunity,” said Teresa Zhuge, Executive Vice Chairman of GLP China.
READ ALSO : GLP to acquire Goodman’s CEE logistics real estate portfolio for €1bn
GLP CIF I is the third vehicle in China to support GLP’s capital recycling strategy. The Company also manages GLP China Value-Add Venture I & II, which were launched in 2018, making US$7 billion of income funds in China.
GLP manages six China real estate and private equity funds, which have approximately US$19 billion in AUM. The company operates across Brazil, China, Europe, India, Japan, and the U.S. and has US$89 billion in assets under management in real estate and private equity funds.
READ ALSO : GLP launches US$2.1bn China fund
 assets under management.){kind=link}