- GLP continues its strategy to pioneer a technology-led logistics ecosystem
- RMB10 billion (US$1.6 billion) private equity fund is GLP’s first fund investing beyond real estate
Shanghai, 11 May 2018 – GLP, the leading global provider of modern logistics facilities and technology-led solutions, has established its first fund investing beyond real estate. The RMB10 billion (US$1.6 billion1) Hidden Hill Modern Logistics Private Equity Fund (“the Fund”) is the only fund in China dedicated to investing in the logistics ecosystem and will be managed by Hidden Hill Capital, the private equity platform of GLP China. Investors in the Fund comprise long-term institutional investors and insurance companies including China Post Capital.
Ming Mei, Co-Founder and CEO of GLP, said: “The launch of Hidden Hill is a major milestone for GLP. 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. We are excited to partner with like-minded investors, continuing our strategy of pioneering a smart logistics ecosystem that harnesses technology to enhance returns for our customers.”
This transaction is in line with GLP’s fund management strategy. GLP manages US$50 billion of assets and the Company is committed to expanding this platform through establishing new funds and further asset recycling.
1Unless stated, all exchange rates are reported as 1 USD = RMB 6.37, the exchange rate as of 9 May 2018
About GLP (www.glprop.com)
GLP is the leading global provider of modern logistics facilities and technology-led solutions, with US$50 billion in assets under management across its real estate and private equity segments. The Company’s real estate fund platform is one of the largest in the world, spanning 62 million square meters (667 million square feet) spread across eight countries globally.
For further information, please contact:
Ambika Goel, CFA
SVP- Capital Markets and Investor Relations
Tel: +65 6643 6372