GLP has seeded a newly launched open-ended Japan logistics fund with JPY280bn (€2.23bn) worth of assets.

The $89bn (€75.3bn) global investment manager said the majority of investors in the GLP Japan Income Fund (JIF) are new to GLP and include pension funds, financial and insurance companies and sovereign wealth funds, investing alongside GLP.

The fund will be seeded with 11 newly developed modern fully-leased logistics assets in greater Tokyo and Osaka, it said.

Yoshiyuki Chosa, president of GLP Japan, said: “GLP Japan Income Fund represents a significant milestone for our business and highlights the strength and track record of GLP as an asset manager and developer.

“Customer demand remains strong and we will continue to raise the bar by creating signature developments that drive innovation in the Japan logistics real estate industry.”

Ralf Wessel, managing director, fund management, of GLP in Singapore, said: “Investor interest from domestic and international investors in GLP Japan Income Fund was very strong.

“We believe it is a testament to our high-quality, modern logistics assets and our fund management and operational capabilities, which allow us to drive value for our investors through all phases of the asset life cycle.”

GLP, which already manages listed Japanese vehicle GLP J-REIT, said remains fully committed to the growth and success of both GLP J-REIT and GLP JIF.

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