F: Singapore’s GLP sets up $5bn China logistics fund; taps AIA, Allianz as new investors

FORBES reports:

Singapore-based warehouse developer GLP has set up a $5 billion income fund focused on logistics properties across China, supported by existing as well as new investors including insurance giants AIA and Allianz.

The new fund—called GLP China Income Partners V—recapitalizes a portfolio of assets developed by GLP China Logistics Fund I, which had been set up in 2013 with $1.5 billion in initial capital commitments from institutional investors. The properties now comprise 54 prime logistics facilities with a combined gross floor area ...