SINGAPORE–Industrial giant GLP is stepping out of its comfort zone with the launch of a $1.6 billion fund that will be aimed at modern logistics facilities and tech solutions for the space. The Hidden Hill Modern Logistics Private Equity Fund, which will be the only fund in China dedicated to investing in the logistics ecosystem, according to GLP, will be managed by GLP's private equity platform Hidden Hill Capital. Investors in the fund include long-term institutional investors and insurance companies including China Post Capital.
GLP CEO and co-founder Ming Mei calls the fund's launch a major milestone for the company. The fund will invest in adjacent growth sectors that complement GLP's real estate business, with a focus on companies employing technology to enhance efficiency in the logistics industry,” he says in a prepared statement.
GLP manages $50 billion of assets and the company says it is committed to expanding this platform through establishing new funds and further asset recycling.
At the start of this year, GLP delisted from the Singapore Exchange, completing a privatization process that it had started last summer when GLP agreed to a takeover by Nesta Investment Holdings Ltd., a consortium that includes a company owned by Ming.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
