GLP Capital Partners (GCP) has closed on about RMB1.75bn (€228m) of fresh capital from a global institutional investor to invest in its China value-added strategies.
When fully leveraged, the capital will be deployed in a pre-identified portfolio of GLP-developed logistics assets valued at approximately RMB3.5bn.
The 420,000sqm seed portfolio comprises four, income-generating logistics industrial parks located in Beijing, Shanghai and the Greater Bay Area.
“This offshore fundraise expands our value-add series in China and serves as a complement to our onshore RMB income strategies which continue to grow alongside strong investor interest,” said Teresa Zhuge, executive vice chairman and president of China at GLP Capital Partners.
“We are excited to continue partnering with new and returning LPs who appreciate our long-term track records of disciplined performance across market cycles.”
Collectively, GCP manages around US$58bn (€55bn) assets under management in China for a global and diverse set of over 90 institutional private capital partners including more than 60 domestic institutional investors.
In the year to date, the company has raised some US$2bn of capital for its China onshore and offshore strategies across real assets and private equity.
To read the latest edition of the latest IPE Real Assets magazine click here.