Singapore-based has closed the GLP China Income Fund XIV, which has RMB2bn (鈧�239m) in assets under management.
GLP did not comment on the amount of capital raised, but its funds typically have 50-60% gearing.
The vehicle is seeded with five income-generating logistics and industrial assets from GLP鈥檚 balance sheet, tenanted by companies in consumer-focused third-party logistics, e-commerce, automobile-related industries.
Teresa Zhuge, chairman of the executive committee of GLP China, said: 鈥淲e are pleased to complete another successful fundraise for our onshore income fund strategy, in line with our asset-light strategy of growing funds under management.鈥�
Zhuge said institutional investors continued to appreciate the resilience of China鈥檚 logistics sector in China. 鈥淲e look forward to continuing to create value for our investors over the long-term.鈥�
She added GLP鈥檚 ability to attract high quality institutional capital remained strong, exemplified by recently announced strategic investments from Abu Dhabi Investment Authority and Zhejiang government-backed investors.
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