GLP Capital Partners establishes $420m China Income Fund XI

GLP Capital Partners (GCP) has closed its China Income Fund XI (CIF XI) with RMB 3 billion ($420 million) of assets under management (AUM) in partnership with a domestic insurance institution.

The fund is seeded with four modern logistics parks from GLP’s balance sheet, with total leasable area of 540,000 square meters (5.8 million square feet), located in core logistics hubs of Shanghai, Jinan and Harbin. The parks serve customers in automobile manufacturing, pharmaceutical, ecommerce and third-party logistics industries, with all parks incorporating smart park technologies and environmentally friendly features such as rooftop photovoltaic systems, electric vehicle charging stations and LED lighting.

“As specialists in industrial and logistics facilities development and management, we adopt a customer-focused approach to serve the changing needs of our customers, yielding resilient leasing performance. We serve a large portfolio of customers critical to the manufa