GLP Raises RMB2.8B for Third China Income Fund

Logistics property giant GLP's investment and asset manager closed its 13th China-focused income fund with capital commitments of 2.8B yuan (~$383.7M).

Similar to the previous fund in the series, GLP Capital Partners teamed up with an unnamed global institutional investor for China Income Fund XIII. For China Income Fund XII, it raised 10B yuan (~$1.4B) in early 2024.

China Income Fund XIII's seed portfolio comprised logistics properties and business park assets across the Asian country. These properties are leased to tenants in the third-party logistics, e-commerce, clean energy, pharmaceuticals, technology and high-end manufacturing industries.

GLP had $79B of AUM in China and more than 110 institutional private capital partners as of September 30. GLP China Executive Committee Chairman Teresa Zhuge said China remains a core market for GLP, which is still confident in the long-term growth prospects of the country.