GLP launches $2.1b China logistics fund

GLP China will act as manager. The fund, known as GLP China Income Partners, is planned to invest around 3 million square meters of modern, income-generating logistics assets in prominent locations in about 20 cities across the country, according to a statement.

It extends a China strategy that saw the establishment of three vehicles last year, including a $2 billion fund alongside GIC Private and a $1.6 billion fund to be managed by a local PE unit called Hidden Hill Capital. This followed the launch of a separate $1.6 billion fund with China Life Insurance as the sole LP. GLP China claims to have raised almost $7 billion worth of funds in the past two years.

Formerly known as Global Logistic Properties, GLP was acquired in 2017 in an approximately $11.5 billion deal by a consortium including Hillhouse Capital and Hopu Investment. It manages $86 billion of assets globally across real estate and private equity platforms that have recycled more than $8 billion of assets since 2012. China is the firm's largest market, with at least 30 million sqm of modern logistics facilities occupied by the likes of Best Inc, LF Logistics, BMW, and JD.com.

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• Topics
• Greater China
• Fundraising
• Growth
• China
• Infrastructure
• Logistics
• Real estate
• GLP