Singapore logistics-focused investment firm GLP has raised another 500 million euros (US$605 million) for its pan-European logistics fund, raising the total equity commitments to 1.6 billion euros, more than the original target of 1.25 billion euros.
The GLP Europe Income Partners II fund raised 1.1 billion euros at the first close in September. The fund primarily invests in European logistics assets with an average building age less than five years.
The fund can double to 3.2 billion euros when it’s fully deployed, GLP says a statement on January 15.
The additional 500 million euros was raised from 20 institutional investors in Asia, Europe and the Middle East, as well as from GLP, a spokesperson for the company tells Asia Asset Management.
He also says GLP’s five new logistics funds raised $16 billion in total in 2020 from over 80 institutional investors, including 30 new partners.
GLP has $97 billion of total assets currently, including $12 billion of European logistics investments.
