GLP has closed its latest China onshore income vehicle, GLP China Income Fund III, to invest in a RMB4.5bn  (€585m) portfolio in Chinese cities.

IPE Real Assets understands that the fund’s single investor is a domestic Chinese institution. GLP China’s contribution to the fund will be in assets.

The new China income fund will invest in a portfolio of stabilised, income-generating industrial and logistics park assets across seven cities.

The fund’s portfolio includes 11 facilities located in the logistics and industrial hubs of Shanghai, Suzhou, Tianjin, Chengdu, Wuxi and Changzhou. 

Teresa Zhuge, executive vice chairman of GLP China, said GLP continued to see “robust investor demand” for stable logistics and industrial assets and income streams in China.

“The fund management platform is an important source of capital for GLP, and we will continue to raise capital for both our development pipeline and stabilised assets to scale our business effectively while generating attractive returns for our investors,” she said.

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