GLP Capital Partners (GCP) has successfully closed its China Income Fund VIII (CIF VIII), part of its premier onshore income fund series, with equity commitments of about RMB2.6bn (USD359m). Raised from five domestic insurance firms, including both new and repeat investors, the fund continues GCP's onshore RMB strategy started in 2017. The CIF VIII portfolio contains more than RMB 5 billion in modern logistics assets across key logistics hubs in China. This reaffirms investor confidence in GCP's expertise in managing logistics real estate, says Teresa Zhuge, Executive Vice Chairman and President, China at GCP. The firm was recently named "Fund House of the Year: China" at the AsianInvestor Asset Management Awards 2023.
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