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GCP’s new fund in China attracts over USD421m



GLP Capital Partners (GCP) has successfully closed its China Income Fund XI, amassing CNY3bn (USD421m) in assets. This accomplishment boosts GCP’s 2023 domestic capital to over CNY16bn. The fund, a collaboration with a local insurance firm, includes four logistics parks in Shanghai, Jinan, and Harbin, totaling 540,000 square metres of leasable space. These parks feature sustainable elements like rooftop solar panels, electric vehicle charging stations, and LED lighting. GCP, established in 2011 by Asian logistics giant GLP, has launched five new unlisted income strategies in China this year, injecting more than 2.6 million square meters of mature assets into these funds. Teresa Zhuge, GLP China’s president, emphasised the strong demand from domestic institutions and insurance companies for high-quality logistics and industrial assets.

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