GLP sets up US$620m fund

Singapore

MAINBOARD-LISTED warehouse provider Global Logistic Properties (GLP) has announced the establishment of a US$620 million fund that is expected to invest US$1.5 billion over three years.

The announcement comes a day after it completed a US$1.1 billion acquisition of US properties.

Named GLP US Income Partners III, the fund has secured US$620 million in equity commitments. Six global institutional investors from Asia, the US and the Middle East have committed for a stake of about 90 per cent, GLP said in a release …