GLP announces $5b China portfolio recapitalization

GLP has established the GLP China Income Partners V (GLP CIP V), a $5 billion recapitalization of the portfolio developed within the 2013-vintage GLP China Logistics Fund I (GLP CLF I).

GLP CIP V received strong interest from both existing GLP CLF I investors who opted to rollover their investment as well as new investors, including leading insurance companies, sovereign and pension funds, many of which are existing investors in other GLP funds. AIA and Allianz Group have invested in GLP CIP V.

The transaction represents a successful and full exit for GLP CLF I, the firm’s flagship USD-denominated, logistics develop-to-core strategy formed in 2013 with $1.5 billion of capital commitments from leading institutional investors. Since then, GLP has executed on a focused and disciplined development strategy to create a diversified portfolio of 54 prime, institutional-grade modern logistics assets totalling more than 5 million square meters (54 million square feet) across