Singapore logistics firm and Asia's biggest warehouse operator, Global Logistic Properties, has established a 10 billion yuan (US$1.6 billion) private equity fund in China to pioneer what was described in a company statement as a “technology-led logistics ecosystem”. Among the investors is China Post.
The Hidden Hill Modern Logistics Private Equity Fund, which will be managed by Hidden Hill Capital, the private equity platform of GLP China, will be GLP’s first fund investing
in a sector other than real estate. Investors in the fund include institutional investors and insurance companies, including China Post Capital.
Benefitting from rising demand for warehouses
“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,” said Ming Zhi Mei, co-founder and CEO of GLP in a statement.
GLP currently has US$50 billion of assets under management, with a real estate portfolio spanning 62 million square metres across eight countries, among them China, Japan, Brazil, and the United States. The company is benefitting from rising demand for logistics facilities driven by the boom in e-Commerce from clients such as Amazon or JD.com.
GLP’s largest shareholder is Singaporean sovereign wealth fund GIC.
Nol van Fenema