GLP establishes largest ever Japanese private real estate fund
Fundraising - OCTOBER 19, 2021

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GLP establishes largest ever Japanese private real estate fund

by Kali Persall

GLP has established the largest ever Japan-focused private real estate fund, GLP Japan Development Partners IV (GLP JDP IV), the fourth vintage of the firm’s flagship logistics development fund series in Japan.

GLP JDP IV has raised JPY311 billion ($2.75 billion) against a target of JPY412 billion ($3.7 billion), breaking the previous fundraising record set by its predecessor, GLP JDP III, which raised JPY250 billion ($2.3 billion) in 2018.

The investor base was made up primarily of existing investors — and some new — from North America, Asia and the Middle East, representing pension funds, sovereign wealth funds and insurance companies.

Like others in the fund series, GLP JDP IV will invest in the development of next-generation modern and environmentally-friendly logistics facilities in Japan, with a focus on the prime Greater Tokyo and Greater Osaka regions. GLP said its fourth vintage fund is expected to reach more than JPY 1 trillion ($9.1 billion) of

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