<article><a href="https://www.dealstreetasia.com/?s=Allianz%20Real Estate">Allianz Real Estate</a>, the realty investment arm of German insurer Allianz, has committed to invest $600 million in the China and Japan-focused funds of Singapore-based logistics major <a href="https://www.dealstreetasia.com/?s=GLP">GLP</a>, according to an announcement Wednesday.</article>

<a href="https://www.dealstreetasia.com/?s=Allianz%20Real Estate">Allianz Real Estate</a>, the realty investment arm of German insurer Allianz, has committed to invest $600 million in the China and Japan-focused funds of Singapore-based logistics major <a href="https://www.dealstreetasia.com/?s=GLP">GLP</a>, according to an announcement Wednesday.
DEALSTREETASIA <a href="https://www.dealstreetasia.com/stories/allianz-re-logistics-southeast-asia-97083/">reported last year</a> that Allianz Real Estate has been actively scouting for logistics deals in the booming consumer economies of China, India, and Southeast Asia as it seeks to build a pan-Asia logistics portfolio.
The investment in GLP funds is part of Allianz Real Estate&#8217;s strategy to grow its real estate exposure in the Asia-Pacific region, the firm said.
GLP&#8217;s China and Japan development funds focus on developing modern, large-scale logistics facilities across China and in the Greater Tokyo and Osaka regions in Japan.
“We continue to believe in the long term fundamentals of the Asia-Pacific region. Logistics is a core part of our investment strategy and this opportunity will further diversify our portfolio,&#8221; said Rushabh Desai, Asia-Pacific CEO of Allianz Real Estate.
At the end of 2018, Allianz Real Estate had a global portfolio of €63.5 billion ($71 billion) with over €3 billion ($3.4 billion) in the Asia-Pacific region and over €5.5 billion ($6.2 billion) in logistics globally.
The investor already has exposure to the logistics sector in Australia, China, Japan, and Korea. In fact, it has doubled its exposure to the e-Shang Redwood (ESR) backed logistics fund in Japan in 2018, according to a top executive.
It had also had invested $100 million in Redwood Japan Logistics Fund II, a JPY-denominated logistics fund, in September 2017.
In an interaction with this portal last year, Desai said the Asia Pacific logistics market is large but still under-penetrated while e-commerce and the growth in consumption are exponential.
GLP has over $64 billion in assets under management in real estate and private equity funds around the world. It was delisted from the Singapore Stock Exchange in January 2018 following an $11.6-billion privatisation deal led by a private equity consortium comprising Nesta Investment Holdings, a vehicle owned by Hopu, Hillhouse Capital, SMG, Bank of China Group Investment and Vanke.
Ming Mei, Co-Founder and CEO of GLP, said the partnership with Allianz Real Estate is a “strong strategic fit”, given the investor’s reputation and history as an investment and asset manager for real estate and GLP’s investment expertise and global scale.
Also Read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/allianz-real-estate-china-101501/">Allianz Real Estate plans to up new economy, logistics investments in China</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/singapores-glp-plan-3b-ipo-of-us-warehouse-assets-132671/">Singapore’s GLP plans $3b IPO of US warehouse assets</a>

The investment in GLP funds is part of Allianz Real Estate's strategy to grow its real estate exposure in the Asia-Pacific region.

Allianz Real Estate to invest $600m in GLP's China, Japan funds

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Allianz Real Estate to invest $600m in GLP's China, Japan funds

Continue reading this premium story with a subscription to DealStreetAsia.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief