GLP, a global investment manager and business builder in logistics, real estate, infrastructure, finance and related technologies, has launched a new China fund, GLP China Income Partners I (“GLP CIP I”), with a group of leading domestic institutional investors.
GLP CIP I has a total investment capacity of RMB15 billion (approximately US$2.1 billion) and will focus on investing in stabilized, income-generating modern logistics assets in China. GLP China is both the fund and asset manager.
GLP CIP I will be the third vehicle to recycle capital in China and it is expected to invest in around three million square meters of modern logistics assets in prominent locations in approximately 20 cities across China.
”..China has become one of the most influential logistics markets in the world.”
”Driven by increasing domestic consumption levels, e-commerce, logistics and related industries in China are growing rapidly, and as a result, China has become one of the most influential logistics markets in the world,” said in a statement.
“The establishment of GLP China Income Partners I is consistent with GLP’s strategy to further expand its fund management platform through establishing new funds and increasing its capital recycling initiatives. Over the past two years, GLP China has raised nearly US$7 billion of income funds, which is a testament to the continued confidence our investors have in GLP’s fund management strategy and operational capabilities,” said Teresa Zhuge, Executive Vice Chairman of GLP China.