GLP establishes $1.6b logistics fund
Singapore-based GLP has established its first fund investing beyond real estate.
The RMB10 billion ($1.6 billion) Hidden Hill Modern Logistics Private Equity Fund is the only fund in China dedicated to investing in the logistics ecosystem and will be managed by Hidden Hill Capital, the private equity platform of GLP China. Investors in the fund comprise long-term institutional investors and insurance companies including China Post Capital.
Ming Mei, co-founder and CEO of GLP, said: “The launch of Hidden Hill is a major milestone for GLP. The fund will invest in adjacent growth sectors that complement GLP’s real estate business, with a focus on companies employing technology to enhance efficiency in the logistics industry. We are excited to partner with like-minded investors, continuing our strategy of pioneering a smart logistics ecosystem that harnesses technology to enhance returns for our customers.”