Global logistics giant GLP has established a RMB15bn (€1.94bn) fund to invest in ”stabilised, income-generating” logistics assets in China.
The GLP China Income Partners I (GLP CIP I) fund – the third vehicle to recycle capital in China – is expected to invest in around three million square metres of modern logistics assets across China.
GLP said the fund was established with a group of domestic institutional investors.
Teresa Zhuge, executive vice chairman of GLP China, said: “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.”
Zhuge said that over the past two years, GLP China had raised nearly US$7bn (€6.4bn) for its income funds.
She said GLP’s logistics and real estate funds seek to generate long-term, stable returns, by investing in high-quality and well-designed properties in prominent locations.