GLP Capital Partners establishes $590m fund with new onshore

GLP Capital Partners (GCP) has established a new RMB 4.3 billion ($590 million) assets under management (AUM) fund in partnership with a leading domestic insurance provider.

China Income Fund X (CIF X) marks the latest addition to GCP’s onshore income fund series, which launched in 2020.

The fund is seeded with 13 stabilized income-generating industrial park assets with a total leasable area of more than 970,000 square meters (10.4 million square feet) strategically located in core markets including Shanghai, Kunshan, Shaoxing, Tianjin, Chongqing, Shenyang and Dalian.

CIF X’s advanced manufacturing and warehousing logistics parks serve high-end intelligent manufacturing industries such as automobiles and parts, electronics and electrical appliances, pharmaceuticals and medical equipment, as well as new industries such as new materials, industrial robots and semiconductors, which support key economic growth pillars.

“China’s manufacturing push to s