GLP closes 7th fund in logistics income fund series

GLP, a global investment manager specializing in logistics, data centers, renewable energy and related technologies, has closed its GLP China Income Fund VII (GLP CIF VII) with RMB 5.4 billion ($752 million) of assets under management.

The fund’s investor mix was composed of domestic insurance companies, including new and existing investors that previously participated in GLP’s onshore funds.

GLP CIF VII is the seventh fund in GLP’s logistics income fund series. The vehicle is seeded with 13 stabilized modern logistics assets from GLP’s balance sheet, located across key logistics hubs, including Shanghai, Qingdao, Wuhan and Changsha. The total leasable area is 800,000 square meters (8.6 million square feet) and serves top customers in the ecommerce, logistics and retail sectors.

“China’s supply chains have displayed strong resilience with growing potential even against the macro environment impacted by the pandemic,” said Angela Zhao, co-president