GLP launches one of largest logistics development funds in Southeast Asia

GLP has launched a new Vietnam-focused fund with an investment capacity of $1.1 billion.

The fund, dubbed GLP Vietnam Development Partners I (GLP VDP I), has received commitments from a diversified investor group across Asia, Europe, North America and the Middle East. The investor base represents pension funds, sovereign wealth funds and insurance companies, including Dutch pension fund manager APG Asset Management and Manulife.

GLP VDP I will focus on developing modern, environmentally friendly logistics facilities in Greater Hanoi and Greater Ho Chi Minh City. The fund is seeded with six development sites covering a total land area of nearly 900,000 square meters (9.7 million square feet).

It is set to be one of the largest logistics development funds in Southeast Asia.

“Institutional investment in APAC's logistics sector has been strong and within SEA, Vietnam is one of the most attractive markets given its population dynamics, growing economy and mi