GLP has closed its GLP China Income Fund VI (GLP CIF VI), an onshore income fund with RMB 7.6 billion ($1.05 billion) of assets under management.
The fund was backed by domestic insurance companies, as well as other existing GLP institutional investment partners.
GLP CIF VI is seeded with 20 stabilized modern logistics assets across 19 cities that serve customers in ecommerce, logistics and retail sectors.
“The closing of GLP CIF VI affirms our ability to raise capital from new and existing investment partners seeking stable returns from our income fund series,” said Teresa Zhuge, executive vice chairman of GLP China. “As part of our progressive transition to an asset-light and capital-efficient business model, we continue to adopt a flexible and disciplined approach to execute on our asset monetization and capital recycling plans. We aim to maximize value for our investors through active asset management underpinned by our emphasis on sustainability.”
