GLP launches $1.1bn Vietnam logistics fund

Vietnamese dongSingapore-based real estate investor GLP has launched its first fund in Vietnam which it claims will be one of the largest logistics funds in Southeast Asia. The GLP Vietnam Development Partners fund has an investment capacity of US$1.1 billion and has received capital commitments from Dutch pension fund APG Asset Management and Canadian insurer Manulife. The fund will focus on developing “modern and environmentally-friendly” logistics facilities in Greater Hanoi and Greater Ho Chi Minh City, according to a GLP statement. “Institutional investment in APAC’s logistics sector has been strong and within SEA, Vietnam is one of the most attractive markets given its population dynamics, growing economy and middle class which support domestic consumption,” said Craig Duffy, managing director, fund management. “With the continued global supply chain shifts to Vietnam, a growing middle class to uphold economic growth, as well as having one of the fastest growing e-commerce markets in SEA, we believe Vietnam logistics is an attractive opportunity for us to enter in the region,” added Graeme Torre, managing director and APG’s head of Asia Pacific Real Estate. ©2022 funds global asia

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