GLP has closed its core-plus onshore vehicle, GLP China Income Fund II (GLP CIF II), with RMB 5.8 billion ($900 million) in capital commitments.
The China-focused logistics fund will invest in high-quality and well-designed properties in prominent locations across Yangtze River Delta, southern China and mid-western China.
A spokesperson for GLP said the fund is fully seeded with a portfolio of 13 modern logistics assets across eight logistics hub cities in China. The fund will be fully invested with the acquisition of the seed assets.
GLP CIF II was backed by new and existing domestic institutional investors.
“We launched GLP China Income Fund II in response to investor demand for cash yields and access to GLP’s proprietary pipeline of high-quality, income-producing logistics assets,” said Teresa Zhuge, executive vice chairman of GLP China. “Fund management is an important and growing part of our business, and we are committed to expanding this pl
