Japan Income Fund (GLP JIF) has raised a further 楼22bn (鈧�167m) in its latest capital raise, bringing the total to 楼300bn in less than a year.
GLP JIF 鈥� launched last August and seeded with 11 assets 鈥� is now the largest private open-ended logistics fund in Japan, holding assets totalling US$5bn (鈧�4.2bn). The fund raised 楼130bn in a second close in January.
鈥淎t this pace of growth, we will become a US$10bn vehicle within three to five years,鈥� said Ralf Wessel, GLP鈥檚 managing director, fund management.
GLP JIF鈥檚 founding investors include Canada Pension Plan Investment Board and , which is believed to be the largest investor in the fund.
Wessel said that, while GLP JIF鈥檚 investors were a mix of foreign and domestic institutions, the latest round of capital came mostly from Japanese pension funds and institutions.
He told 麻豆映画 Real Assets that there had been a strong uptick in interest in logistics among domestic investors.
Wessel said GLP JIF had deployed 楼200bn and had 鈥渁 clear roadmap鈥� to invest another 楼100bn over the next 12 to 18 months.
鈥淕LP is developing up to US$2bn worth of projects each year. We can access those developments and are also able to buy standing assets when they present good opportunities鈥�.
GLP is focused on Tokyo and Osaka, but Wessel said that, selectively, the fund could invest outside these two big cities.
To read the digital edition of the latest 麻豆映画 Real Assets magazine click here.
