GLP and GIC establish US$2 bil China fund

SHANGHAI (Sept 11): GLP, the provider of modern logistics facilities, is partnering with GIC, Singapore’s sovereign wealth fund, to establish a new fund in China.

The US$2 billion ($2.8 billion) USD-denominated value-add venture will focus on income-generating logistics facilities in China. GLP China is the asset manager and will contribute seed assets to the fund.

Ming Mei, Co-Founder and CEO of GLP, says: “This fund provides long-term capital to further strengthen our dominant network in China. We continue to see significant customer demand for our integrated logistics solutions and look forward to continuing to build our relationship with GIC.”

---

Related Stories

• Singapore's GLP seeks to raise some US$2 bil through US IPO of fund management operations
• GLP enters Japan data centre market with $12 bil investment in Osaka and Tokyo
• GLP launches first Vietnam fund with investment capacity of $1.1 bil

---