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An unidentified global investor has supported the launch of the first vehicle under GLP Capital Partners’ (GCP) industrial park investment strategy in China.
The GCP China Advanced Research Manufacturing Value-Add Partners (CAVP) fund has committed US$350 million ($327 million) to invest in industrial parks focused on advanced research and manufacturing (ARM) facilities in China’s core economic hubs. It has an initial investment capacity of more than EUR).
“We are pleased to be able to provide investors with access to the ARM facility grown and managed by GLP to help them achieve their capital recycling goals,” said Teresa Juge, GCP’s President for China.
The fund’s initial asset will be a 140,000 square meter industrial park in Beijing developed and owned by GCP.
The vehicle has an obligation to acquire additional assets in areas such as new energy vehicles and smart manufacturing. “High-tech manufacturing remains a bright spot,” said Tim Wang, co-president of logistics and industrial real estate at GCP China.
“As the transformation and upgrading of traditional industries continues to accelerate, we believe in the long-term fundamental demand of this sector.”
With the addition of CAVP, GCP will have over USD 3.5 billion of investable capital targeting logistics/industrial parks with a focus on ARM. This includes China Income Fund X and China Income Fund XII.
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