The biggest logistics investor and operator in Asia, GLP, is eyeing the launch of the largest ever private real estate fund in Japan, on the back of the increased demand for warehouse space. The fund, GLP Japan Development Partners I, has just completed a JPY311 billion (US$2.73 billion) capital raise. It hopes to have more than $9.1 billion in assets under management (AuM), once the fund is fully deployed. According to GLP, the fund will focus on environmentally-friendly logistics facilities in Japan and Tokyo and Osaka specifically. GLP, which is owned by a Chinese consortium, currently has more than $120 billion in AuM, invested in real estate and private equity. The logistics sector has become an investment hotspot since the pandemic and the widespread use of ecommerce, which has in turn driven the demand for warehouse space. © 2021 funds global asia