<article>Industrial logistics provider <a href="https://www.dealstreetasia.com/?s=GLP">GLP</a>, one of the world&#8217;s largest real estate fund managers, has announced the launch of its debut private equity fund that is seeking to raise Rmb10 billion ($1.6 billion) to invest in the logistics ecosystem.</article>

Industrial logistics provider <a href="https://www.dealstreetasia.com/?s=GLP">GLP</a>, one of the world&#8217;s largest real estate fund managers, has announced the launch of its debut private equity fund that is seeking to raise Rmb10 billion ($1.6 billion) to invest in the logistics ecosystem.
In a statement, GLP said the newly created private equity fund, <a href="https://www.dealstreetasia.com/?s=Hidden%20Hill Modern Logistics Private Equity Fund">Hidden Hill Modern Logistics Private Equity Fund</a>, will be managed by its private equity platform Hidden Hill Capital. The fund will be its first for investments outside real estate.
The launch of the logistics-focused PE fund comes three months after GLP set up its first China value-add fund, GLP China Value-Add Venture I, with a total equity commitment of $1.6 billion.
In December last year, GLP had also established two new European funds as part of its recent foray into that continent.
&#8220;The launch of Hidden Hill is a major milestone for GLP. The fund will invest in adjacent growth sector that complement GLP&#8217;s real estate business, with a focus on companies employing technology to enhance efficiency in the logistics industry,&#8221; said GLP co-founder and CEO Ming Mei.
Ming said the firm decided to launch Hidden Hill due to the growing inquiries from institutional investors on how they could partner with GLP for investments.
The new fund has attracted a mix of investors including Chinese insurance companies such as China Post Capital and other institutional investors.
With the latest funding, GLP’s assets under management have expanded to nearly $50 billion globally, which represents an annual growth rate of 56 per cent. Globally, GLP has recycled close to $8.1 billion of assets over the last six years and the company plans to continue its capital recycling strategy, it said.
GLP claims to be the largest owner and operator of modern logistics facilities in China, with a 30 million square meter portfolio across 38 strategic submarkets. Its clientele in China includes companies including BEST Inc., BMW, JD.com and LF Logistics.
In January, GLP delisted from the Singapore Exchange, completing a privatisation process that began last summer. The company had agreed to a takeover by Nesta Investment Holdings, a vehicle owned by Hopu, Hillhouse Capital, SMG, Bank of China Group Investment and Vanke.
Also Read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/logistics-major-glp-raises-1-6b-for-first-china-value-add-fund-92212/">Logistics major GLP raises $1.6b for first China value-add fund</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/glp-privatisation-into-effect-to-delist-from-sgx-on-jan-22-89976/">GIC-backed GLP privatisation comes into effect, to delist from SGX on Jan 22</a>

The new fund has attracted a mix of investors including Chinese insurance companies such as China Post Capital and other institutional investors.

Logistics major GLP announces launch of $1.6b debut PE fund

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Logistics major GLP announces launch of $1.6b debut PE fund

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief