GLP Capital Partners China closes RMB 3.6 billion income fund
Fund seeded with a Beijing office building from GLP’s balance sheet
Shanghai and Singapore, 3 November 2023 – GLP Capital Partners (“GCP”) has closed on a new closed-end office income strategy with total AUM of RMB 3.6 billion. The income fund is invested in a high quality, core office complex in Beijing and is anchored by a renowned insurance institution in Asia and longstanding partner in GCP’s strategies.
The office complex comprising total gross floor area of 63,000 SQM underwent comprehensive asset management and leasing initiatives after GLP acquired the property in 2021 and is currently leased to leading financial services, healthcare, pharmaceutical and agriculture and food companies.
Situated in Beijing’s East Second Ring Road Business District, the office complex serves many blue-chip customers seeking to establish headquarters in the well-established commercial cluster.
“We continue to see sustained investor appetite for assets generating stable and secured cash flows. The successful closing of the income fund is a strong recognition of our investment and asset management capabilities and demonstrates a significant enhancement in asset performance driven by the GLP team to achieve operational stability, thus creating value for customers and investors,” said Teresa Zhuge, Executive Vice Chairman and President, China at GLP Capital Partners.
About GLP Capital Partners
GLP Capital Partners (“GCP”) is a leading global alternative asset manager that focuses on thematic investing across real assets and private equity. With $124 billion in total assets under management across 55 funds as of 30 June 2023, GCP has a strong history of leadership in high-growth Asian markets and a track record of success at scale in the US, Europe and Brazil. GCP is the exclusive investment and asset manager of GLP Pte Ltd. To learn more about GCP, visit www.gcp.com.
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