GLP, a global investment manager and business builder in logistics, real estate, infrastructure, finance and related technologies, has launched a new China-focused real estate fund with an investment capacity of ¥15 billion ($2.1 billion).
The fund, GLP China Income Partners I (GLP CIP I), will focus on investing in around 3 million square meters (32.3 million square feet) of stabilized, modern logistics assets in 20 Chinese cities.
“The establishment of GLP China Income Partners I is consistent with GLP’s strategy to further expand its fund management platform through establishing new funds and increasing its capital recycling initiatives,” said Teresa Zhuge, executive vice chairman of GLP China.
During the past two years, GLP China has raised nearly $7 billion of income funds, according to Zhuge. Following the transaction, GLP’s fund management platform will expand to $86 billion in assets under management in real estate and private equity funds.
