GLP Announces $1.2 Billion First Close of China Value-Add Partners IV

Singapore and Shanghai, 22 November 2022 – GLP announced today the first close of GLP China Value- Add Partners IV (“GLP CVA IV”) with $1.2 billion in equity commitments and approximately $2.6 billion of investment capacity from a number of GLP’s long-term institutional investment partners including APG Asset Management N.V (“APG”), the investment manager for the largest pension provider in the Netherlands.

GLP CVA IV is a new, differentiated logistics value-add strategy focused on acquiring existing assets and creating value through active asset management, including cold storage conversion and will capitalise on market opportunities arising from ongoing deleveraging initiatives and market consolidation in China. The fund is seeded with assets located in key logistics hubs in China with a total net leasable area of approximately 600,000 sqm and features significant committed investment capacity to capitalise on further opportunities, including GLP’s robust acquisition pipeline. 

Teresa Zhuge, Executive Vice Chairman of GLP China, said “This is an opportune time to establish a China logistics value-add strategy that will capitalise on current market volatility. GLP CVA IV is a new flagship fund backed by GLP’s unique sourcing network, leading market scale and highly experienced teams. We are truly grateful for the trust and continued support of our investor partners.”

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