Fundraising - JANUARY 19, 2022

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GLP closes largest-ever Japan-focused private real estate strategy

by Kali Persall

GLP has closed its flagship Japan logistics development strategy, GLP Japan Development Partners IV (GLP JDP IV), with JPY 412 billion ($3.6 billion) of equity commitments.

The capital came from a diversified investor group of pension funds, sovereign wealth funds and insurance companies from North America, Asia and the Middle East.

“The successful GLP JDP IV fundraise on such a short time scale is another strong vote of confidence from our investors,” said Ralf Wessel, managing director, fund management at GLP. “We see a significant interest uptick among domestic institutions who have participated in our development fund series for the first time following a significant representation in our core, open-ended Japan income fund.”

With an initial target size of JPY 300 billion ($2.6 billion), GLP JDP IV was oversubscribed and closed at its JPY 412 billion ($3.6 billion) hard cap. GLP said this represents the largest ever amount of capital raised for a Japa

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