GLP Capital Partners Unveils $350M China Industrial Park Fund

GLP Capital Partners, a global alternative asset manager specializing in real assets and private equity, has launched a $350 million fund aimed at industrial parks in China.

The fund, GCP China Advanced Research Manufacturing Value-Add Partners (CAVP), will concentrate on assets catering to advanced research manufacturing (ARM), according to the asset management arm of GLP.

The fund will seeded with a Beijing industrial park from GLP’s balance sheet, which has 1.5 million square feet of net leasable area, the firm said.

The fund will also buy other assets aimed at a range of ARM sector tenants, such as new energy vehicle producers and smart manufacturing tenants.

“High-tech manufacturing remains a bright spot and we continue to believe in the long-term fundamental demand for this sector as the transformation and upgrading of traditional industries continues to accelerate. We look forward to expanding this fund as we capitalize on the opportunities that we’re seeing,” said Tim Wang, co-president of logistics and industrial real estate, GCP China.

With the addition of CAVP, GCP has more than $3.5 billion of investable capital targeting logistics and industrial parks with an ARM focus. This includes China Income Fund X comprising a 970,000 SQM portfolio of advanced manufacturing and warehousing logistics parks and China Income Fund XII with 2.2 million SQM of logistics and business park assets.

GLP Capital Partners has $126 billion in assets under management across 57 funds. The firm is based in Asia and has an office in California.