News

GLP makes first close of China logistics fund

ChinaSingapore-based real estate investment firm GLP has pulled in $1.2 billion in capital commitments after announcing the first close of its GLP China Value-Add Partners fund. The fund has also gained approximately $2.6 billion in investment capacity from its institutional investors, including Dutch pension fund APG Asset Management. In terms of strategy, the fund will invest in existing logistics assets and look to add value through active management of those assets. It has been seeded with assets within logistics hubs in China with a leasable area of approximately 600,000 sqm. “This is an opportune time to establish a China logistics value-add strategy that will capitalise on current market volatility,” said GLP China executive vice chairman Teresa Zhuge. ©2022 funds global asia

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