Global investment manager GLP has closed its sixth China income logistics fund with RMB7.6bn (€1.06bn) in assets under management.
The company said investors in the GLP China Income Fund VI (GLP CIF VI) fund include leading domestic insurance companies, as well as existing GLP institutional investment partners.
The onshore fund is seeded with 20 stabilised modern logistics assets across 19 cities. The assets offer a total leasable area of 2.13m sqm.
“The portfolio of assets consists of quality core income-generating properties, ensuring strong and recurrent cash-flow generation,” said GLP.
Teresa Zhuge, executive vice-chairman of GLP China, said: “The closing of GLP CIF VI affirms our ability to raise capital from new and existing investment partners seeking stable returns from our income fund series.
“As part of our progressive transition to an asset-light and capital-efficient business model, we continue to adopt a flexible and disciplined approach to execute on our asset monetisation and capital-recycling plans.”
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