GLP Capital Partners has raised RMB10bn (€1.3bn) for its latest China income logistics fund.

The manager’s China Income Fund XII (CIF XII) fund, seeded with 25 logistics and business park assets from GLP’s balance sheet, is backed by an unidentified global institutional investor, which has previously invested with GLP.

CIF XII’s portfolio is anchored by a diversified blue-chip tenant base including e-commerce, automotive, third-party logistics players, alternative energy, and intelligent and high-tech manufacturing companies, said the manager.

“We have strong conviction in the solid fundamentals and growth prospects of new economy asset classes such as modern logistics parks, technology parks and hi-tech manufacturing parks,” said Teresa Zhuge, president of China at GLP.

Zhuge said industrial operations in China, particularly in the hi-tech manufacturing sector, had experienced rapid growth as a result of favourable government policies and resilient global demand for consumer products. 

The Chinese government has introduced supportive government policies such as “Made in China 2025” and “Intelligent Manufacturing Development Planning (2016 - 2020)”, to propel the industry into its next phase of development, she added.

“Under the China Torch Program, the clustering of software and information technology enterprises is encouraged to support innovation, resulting in an increase in demand for properties in science and technology parks.

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