GLP launches first China value-add fund
GLP, a leading global provider of modern logistics facilities and technology-led solutions, has established its first China value-add fund with a single investor, China Life. GLP China Value-Add Venture I has total equity commitments of $1.6 billion and will focus on acquiring completed logistics and industrial assets in China. GLP China is the asset manager and will contribute seed assets to the Venture.
“The logistics industry is a key cornerstone of China’s economy, while GLP has a proven track record and reputation for execution. We believe in the long-term fundamentals of the industry and look forward to partnering alongside GLP to further advance the logistics ecosystem in China,” said China Life in a statement.
Following this transaction, GLP’s fund management platform expands to $46 billion, which represents an annual growth rate of 56 percent since 2011. Globally, GLP has recycled close to $8.1 billion of assets over the last six years and the company plans to continue its capital recycling strategy.
M3 Capital Partners (HK) Limited acted as exclusive financial adviser to GLP in connection with the formation of GLP China Value-Add Venture I.