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GLP Capital Partners Closes $2.3B Fund for Logistics Real Estate
Investment manager GLP Capital Partners (GCP) has reached final closing of its North American logistics real estate fund, GLP Capital Partners IV. At more than $2.3 billion in aggregate capital commitments, the fund exceeded its $2-billion target and is reportedly the largest discretionary closed-end fund focused on North American logistics real estate ever raised.
“We began raising this fund just as the global pandemic changed so much about our economy and daily lives,” said Alan Yang, founder, CEO and senior managing director of GCP. “Our team stayed focused on delivering a compelling value proposition to investors. The fundraise is a testament to the demand for logistics real estate driven by accelerating e-commerce.”
The fund aims to invest in institutional-quality logistics assets across the value creation spectrum that are strategically located in infill and key distribution markets. At its final closing, the fund was more than 50% committed to investments.
Yang and his team established Los Angeles-based GCP in 2019, following their $18.7-billion sale of the GLP U.S. portfolio to Blackstone.
- ◦Financing
