GLP creates first China value-add fund with China Life

Global Logistic Properties (GLP) has established its first China value-add fund with a single investor, China Life. 

The vehicle aims to have total equity commitments of RBM10bn (€1.3b).

The Singapore-based company said the fund will focus on acquiring completed logistics and industrial assets in China.

The fund will come under GLP China, which will manage its assets. It will also contribute seed assets to the joint venture.

Teresa Zhuge, GLP China’s vice chairman, said the deal is ”consistent with several key elements of our strategy including recycling assets and further growing our fund management platform.”

“Demand from institutional investors to partner with GLP continues to be strong and we plan to establish additional new income funds in China.”

China Life, one of China’s largest insurers, said it believed in the long-term fundamentals of the logistics industry.

“The industry is a key cornerstone of China’s economy while GLP has a proven track record and reputation for execution,” it said in the statement.

Following this transaction, GLP’s fund management platform expands to US$46bn (€37.5bn), which represents an annual growth rate of 56% since 2011.

Related images

  • Shanghai, China

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2435

    Asset class: CLOs.
    Asset region: Global.
    Size: USD 50m.
    Closing date: 2018-05-22.

  • QN-2436

    Asset class: Real Estate - Core Open-ended Real Estate Equity Fund (non-listed).
    Asset region: Asia Pacific.
    Size: Approx. CHF 70-100m per investment.
    Closing date: 2018-05-25.

  • QN-2438

    Asset class: High Yield Bonds.
    Asset region: US.
    Size: USD 300 million.
    Closing date: 2018-05-25.

Begin Your Search Now