Global logistics giant has established a RMB15bn (鈧�1.94bn) fund to invest in 鈥漵tabilised, income-generating鈥� logistics assets in China.
The GLP China Income Partners I (GLP CIP I) fund 鈥� the third vehicle to recycle capital in China 鈥� is expected to invest in around three million square metres of modern logistics assets across China.
GLP said the fund was established with a group of domestic institutional investors.
Teresa Zhuge, executive vice chairman of GLP China, said: 鈥淭he establishment of GLP China Income Partners I is consistent with GLP鈥檚 strategy to further expand its fund management platform through establishing new funds and increasing its capital recycling initiatives.鈥�
Zhuge said that over the past two years, GLP China had raised nearly US$7bn (鈧�6.4bn) for its income funds.
She said GLP鈥檚 logistics and real estate funds seek to generate long-term, stable returns, by investing in high-quality and well-designed properties in prominent locations.
