GLP announced the closing of its newly established China-focused core-plus logistics fund, GLP China Income Fund II, with total capital commitments of RMB 5.8 billion (approximately US$900 million).
GLP said the fund seeks to generate long-term, stable returns, by investing in high-quality and well-designed properties in prominent locations.
GLP China Income Fund II is seeded with a portfolio of 13 modern logistics assets in prime locations across Yangtze River Delta, southern China and mid-western China.
The investors in GLP CIF II comprise new and existing domestic institutional investors.
“We launched GLP China Income Fund II in response to investor demand for cash yields and access to GLP’s proprietary pipeline of high quality, income-producing logistics assets. Fund management is an important and growing part of our business and we are committed to expanding this platform through further capital recycling initiatives and establishing new funds,” said Teresa Zhuge, Executive Vice Chairman of GLP China.
GLP is the market leader in ground-up development and asset management of modern logistics real estate in China and currently manages $20 billion AUM of logistics funds across income and development strategies.